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China May Turn to India for Sugar Imports

22 November 2011

CHINA - India would be the first option for China to import Sugar at cheaper cost, according to Peter Baron, executive director, International Sugar Organisation (ISO).

The surplus production in India and lower freight costs are the major factors that attracts China, reports Commodity Online.

According to Peter Baron, China is expected to import 2.7 million tons in 2011-12 from 2.1 million tons in 2010-11 and the production is expected to touch 12.6 million tons, reported wallstreetjournal.

Meanwhile in India, sugar exports are highly regulated. The government takes decision from time to time to curb price rise of commodities. The global prices are currently higher than in India.

India exported around 2.6 million tons of Sugar in 2010-11.

Whereas, according to ISO, India's sugar production is estimated to be around 25.8 million tons in 2011-12 from 24.3 million tons in 2010-11.

On National Commodity and Derivatives Exchange of India (NCDEX), the sugar for December delivery traded down 1.58 per cent to Rs 2933 and On Inter Continental Exchange (ICE), sugar for March delivery traded up 0.8% to $ 24.18 on 21st November at 16:30 IST.

TheCropSite News Desk

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