London: In a newly independent trade policy, Britain has decided to allow the import of 260,000 tonnes of raw sugar in 2021 which will be tariff-free. The country has developed an independent trade policy for the first time in nearly 50 years.
The quota will cover half of the 40,000 tonnes, which Britain needs annually.
According to the news agency Reuters, the decision to make the quota open to all is expected to benefit Brazil more.
The imported raw sugar will be converted to white sugar at the only sugar refinery of the country in London belonging to Tate and Lyle Sugars that are parts of the Florida-based ASR Group.
Unica, the Brazilian sugar industry group has welcomed the move and stated that low-cost sugar producers will increase the supply quota to Britain.
