Under tariff-rate quotas, the government has approved the export of an additional 3,675 tonnes of raw/refined sugar to the United Kingdom. TRQ (Tariff-Rate Quota) refers to a collection of goods that are allowed to reach the UK with low tariffs. When the cap is met, the goods are subject to a higher tariff.
In a public note, the Directorate General of Foreign Trade (DGFT) said, "The additional quantity of 3,675.13 tonne of raw/refined sugar to be exported to the UK under TRQ up to September 30 this year is notified."
The Agricultural and Processed Food Products Export Development Authority (APEDA) will be the implementation body for the quota, according to the statement.
This additional sugar exceeds the EU (European Union) CXL sugar quota of 10,000 tonnes announced by the DGFT last year for 2020-21.
Traders will sell sugar to the EU for a low or no customs duty if they take advantage of the CXL concessions.
