Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Sugar Union Drafts Quota




The Sugar Producers Union has proposed setting a tariff quota on raw cane sugar imports to cut excessive imports starting no later than 2001, the union said in a letter to the Trade Ministry.


"If it proves impossible to apply the quota this year, a decision should be taken in the fourth quarter [of 2000] to set it, and to implement it quarter by quarter in 2001," the union said Wednesday.


A tariff quota is a scheme under which a certain amount of a commodity is imported at a standard import tariff rate, and any volumes imported above the quota are liable to a higher rate.


If the quota were set in 2000, Russia should be able to import 3 million metric tons at the current rate of 5 percent, the union said.