The Commerce Ministry on Tuesday liberalised the sales of preferential quota sugar to the European Union (CXL quota) and the United States (TRQ quota), effectively allowing all exporters and not just State Trading Enterprises (STEs) to avail of the benefits of the quota subject to a quantitative ceiling that will be reviewed notified by the Director General of Foreign Trade (DGFT) periodically.
The quotas essentially allow a quantum of exports to these markets at low tariffs. Additional imports of the sweetener beyond the quota are subject to additional tariffs. The Indian Sugar Exim Corporation would earlier export sugar under this system.
"The change in the policy of the preferential sugar quota will enable all sugar industries in the country to export sugar subject to a minimal requirement of registration from APEDA or DGFT," said the Ministry in a statement.
Traders will have to furnish details of exports to the Additional DGFT, Mumbai, as well as Agricultural & Processed Food Products Export Developnent Authority (APEDA). A certificate of origin, if required, will be issued by the former. The quota for the EU is presently 10,000 tonnes while that for the US is 8,000 tonnes.
Source:thehindubusinessline.com
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