Government's Flip Flop on Sugar Continues
EARLIER, DGFT vide Public Notice No. , Dated February 15, 2010 allocated to M/s Indian Sugar Exim Corporation Limited, New Delhi, which is the designated agency for export of Sugar to EU under Preferential Quota, a total quantity of 10,000 MTs of white Sugar for export of CXL Concessions Sugar classifiable under HS Code No. 1701 00 00 in the Schedule-2 of ITC(HS) Classification to European Union for the fiscal year 2009-10 (October, 2009 to September, 2010).
DGFT also prescribed special certification requirements in EUR and GSP documents and also stipulated that the EUR Form is to be endorsed by Customs at the Port of Shipment and the GSP Certificate by Export Inspection Agency/Directorate General of Foreign Trade.
Within a week, the Government took a U-Turn and rescinded Public Notice No. thereby withdrawing the allocation of 10,000 MTs of white sugar for export of CXL Concession Sugar to European Union for the Fiscal Year 2009-10.
While the sugar prices continue to give persistent migraine to the Central Government, it appears that better sense prevailed in withdrawing this export allocation.
What is CXL ? It is an acronym for European Union's ‘Schedule of Concessions' for certain specified commodities.
PUBLIC NOTICE NO. , Dated: February 23, 2010