India permits export of 8,587 tonnes of raw sugar to US

The government has permitted export of 8,587 tonnes of raw sugar under tariff-rate quota (TRQ) to the US, for the US fiscal year 2013 (1 October 2012 to 30 September 2013).

The export will be made through Indian Sugar Exim Corporation Ltd, New Delhi, under the generalised system of preferences, the Directorate General of Foreign Trade (DGFT) said in a release.

The release said existing procedures in respect of preferential sugar export to USA for issue of GSP certificate as well as other certification requirement, if any, prescribed specifically for export of sugar to USA would be followed.

''8,587 tonnes of raw cane sugar is permitted to be exported to USA under TRQ by Indian Sugar Exim Corporation Ltd,'' DGFT said in a public notice.

India enjoys a TRQ quota volume of 10,000 tonnes of sugar for exports to the US at relatively low tariffs.

Once the quota is reached, a higher tariff is applied on additional imports.

India, the world's second biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well.

The country is estimated to have produced 23.5 million tones of sugar in the 2012-13 marketing year (October-September), against a record 26 million tonnes in the previous year.

The country annually consumes around 22 million tones, which still gives a surplus of 1.5 million tonnes on the current production itself.

India exported about 3.5 million tonnes of the sweetener in the previous marketing year.