The govt on Friday permitted export of additional 745 tonnes of raw sugar beneath its tariff-rate quota (TRQ) to the US, which enables shipments to appreciate reasonably low tariff.
TRQ is a quota for a volume of exports that enter the US at reasonably low tariffs. After the quota is arrived at, a higher tariff applies on additional imports.
“Additional amount of 745 MTRV (metric tonne raw worth) of raw cane sugar, for export to the United states of america, beneath TRQ, up to September thirty, 2020 has been notified,” Directorate General of International Trade (DGFT) explained in a community see.
With this additional amount, India has permitted exports of nine,169 tonne of raw sugar to the US beneath TRQ all through the US fiscal calendar year 2020.