New Delhi, Oct 12 (KNN) The validity for export of raw sugar to the US under tariff-rate quota (TRQ) has been extended from September 30, 2022 to December 31, 2022, said Directorate General of Foreign Trade (DGFT) said on Wednesday.

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.

It has earlier said that that with this added quantity, the total sugar export to the US under TRQ during US fiscal year 2022 would be 10,475 MT.

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.

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.  (KNN Bureau)