New York: The United States government announced on Wednesday its decision to augment the low-tariff sugar import quota by 125,000 metric tons, to enhance sugar supplies within the domestic market.
Following this adjustment, the total allocation for the import of cane raw sugar under the low-tariff quota, known as the TRQ, has increased to 1.24 million tons for the fiscal year 2024.
The Foreign Agricultural Service justified these measures, citing a thorough assessment that identified the necessity for additional supplies of raw cane sugar in the U.S. market, as outlined in an official statement.
According to the statement, the allocation of this supplementary volume among the contributing countries will be overseen by the U.S. Trade Representative.
