The government on Wednesday permitted the export of specified quantity of raw sugar to the US under the Tariff-Rate Quota (TRQ) till December-end this year. Earlier, it was permitted till September 30. "The validity for export of raw sugar to the US under TRQ has been extended from September 30, 2022 to December 31, 2022," the Directorate General of Foreign Trade (DGFT) said in a public notice. TRQ is a quota for a volume of exports that enters the US at relatively low tariffs. After the quota reaches its limit, a higher tariff is applicable to additional shipments. In May, the government permitted additional export of 2,051 metric tonne of raw sugar under the TRQ to the US for its fiscal year ending September 30, 2022. With this quantity, total sugar export to the US under TRQ during its fiscal year 2022 would be 10,475 MT. 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
India has emerged as the world's largest producer and consumer of sugar and its second largest exporter
The high production cost of sugar in Uttar Pradesh may adversely impact its export from the state, creating a glut-like-situation in the upcoming cane crushing season
He also argued that the sugar industry should try to create avenues through which ethanol could be sold directly to the automobile industry
The apex sugar body has urged the govt to not experiment with a new export system
He did not disclose the quantity of sugar exports that will be allowed for the 2022-23 marketing year (October-September).
Higher production will weigh on local prices and may prompt New Delhi to allow sugar exports in the 2022/23 marketing year starting from Oct. 1. Indian exports could weigh on global sugar prices.
In India, the Central government determines the quantity of sugar that each mill can sell in the domestic market each month which keeps on changing depending upon the demand-supply matrix.
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