India extends deadline to surrender sugar import quota
However, importers will have to pay 0.5% of the CIF value of the surrendered quantity
The Directorate-General of Foreign Trade (DGFT) has extended the deadline to September 30 for sugar importers to surrender their quota under the 10 lakh tonne TRQ scheme if they are unable to import. Importers will need to pay 0.5 per cent of the CIF value for unutilised and surrendered quantities. Despite the extension, the government maintains adequate sugar stocks to meet domestic demand, with production expected to be around 306 lakh tonnes for the current season, down from the initial estimate of 343 lakh tonnes due to diseases affecting the cane crop.
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