India exports 14,172 tonnes sugar to US and EU till July

The government had amended export policy on preferential quota sugar to the EU and the US, under which, exports are permitted on low tariffs and post quota limit, a higher tariff is applied on additional exports.

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Indian sugar firms, under the preferential quota, exported 6,101 tonnes to the European Union and 8,071 tonnes to the United States of America (USA) till July, said Commerce and Industry Minister Nirmala Sitharaman. According to the Minister, companies that exported sugar under preferential quota during the sugar season 2014-15, included Pure Diets India, Suminter India Organics, Shree Renuka Sugars Ltd, among others. The Minister said that the government had amended the policy of export on preferential quota sugar to the EU and the US, under which, exports are permitted on low tariffs and post the quota limit, a higher tariff is applied on additional exports. The government’s decision to amend policy of export of preferential quota sugar was taken on account of liberalization of quota modalities at the EU end, need for liberalization of quota handling formalities at Indian end, and to ensure optimal utilization of these quotas and offer equal opportunities to all exporters. Government took a conscious decision in the interest of full utilization, transparency and need to liberalise trade regimes by changing the restriction condition from ‘STE’ to ‘Free’, the Minister told Lok Sabha on Friday. The move was aimed at providing equal opportunity to all interested and eligible sugar industries/ exporters to participate in the country’s concession sugar export quota, she added.

August 08, 2015 | 4:50pm IST.

The Dollar Business Bureau - Aug 08, 2015 12:00 IST
 
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