India allows additional 745-t raw sugar exports to US
The government on Friday permitted export of additional 745 tonnes of raw sugar under its tariff-rate quota (TRQ) to the US, which enables shipments to enjoy relatively low tariff.
TRQ is a quota for a volume of exports that enter the US at relatively low tariffs. After the quota is reached, a higher tariff applies on additional imports.
“Additional quantity of 745 MTRV (metric tonne raw value) of raw cane sugar, for export to the USA, under TRQ, up to September 30, 2020 has been notified,” Directorate General of Foreign Trade (DGFT) said in a public notice.
Ensuring uninterrupted supply of foodgrains in TN: Food Corporation
Food Corporation of India (FCI) has said that it is ensuring uninterrupted supply of foodgrains in Tamil Nadu and urged the organisations that are engaged in relief operations in the State, to make full use of the supply meant for them under a programme.
A new beneficiary scheme has been introduced by the Centre for the supply of foodgrains to charitable institutions/NGOs (engaged in relief operations by providing cooked meals for various needy people including migrant labour/ vulnerable groups) at a subsidised rate of ₹21 per kg for wheat and ₹22 per kg for rice.
South Indian natural rubber sector suffers Rs 610 crore loss after lockdown
The United Planters’ Association of Southern India (Upasi) has called for a ban on the import of natural rubber for one year and enhancement of bound rate of duty from the current level of 25 % as production loss mounts in the natural rubber sector.
The association has estimated a crop loss of 49000 tonnes valued at Rs 610 crore from the last week of March and April. The absence of rubber trading has affected cash flow and revenue, especially from the sale of sheets and latex that came to a standstill, Upasi said in a representation to the Rubber Board.