MANILA - The Philippines will enjoy the third-largest volume of sugar that can enter the US with lower duties for the 2014 fiscal year (FY) starting next month, the Office of the US Trade Representative (USTR) said.
On its website, the USTR said the Philippines has been allocated 142,160 metric tons raw value (MTRV) under the US’ tariff-rate quotas (TRQs) on raw cane sugar for FY 2014 covering October 1 this year until September 30 next year.
According to the USTR, TRQs allow countries to export specified quantities of a product to the US at a relatively low tariff, "but subject all imports of the product above a pre-determined threshold to a higher tariff.”
In terms of volume, the allocation for the Philippines is just behind those for Dominican Republic (185,335 MTRV) and Brazil (152,691 MTRV).
Forty countries in all may export a combined 1,117,195 MTRV of raw cane sugar to the US, the volume committed by the US under the World Trade Organization (WTO).
The USTR said the allocations were based on each country’s historical shipments to the US.
“The allocations of the raw cane sugar TRQ to countries that are net importers of sugar are conditioned on receipt of the appropriate verifications of origin, and certificates for quota eligibility must accompany imports from any country to which an allocation is provided,” the USTR said.
The FY 2014 in-quota volume for refined sugar shipments to the US meanwhile amounts 122,000 MTRV, of which 101,656 MTRV are for specialty sugar, which include organic sugar and other specialty sugars not being produced commercially in the US or "reasonably available from domestic sources.”
For sugar-containing products, the in-quota volume is 64,709 metric tons.
Exports of refined and specialty sugar, as well as sugar-containing products to the US under the TRQ can be availed by trading partners on a “first-come, first-served basis.”
source: interaksyon.com
