In­dia plans to ex­port two mil­lion tonnes of sugar to China from next year, says gov­ern­ment

The Northlines - - BUSINESS -

In­dia plans to ex­port two mil­lion tonnes of raw sugar to China from next year, the trade min­istry said on Thurs­day, as part of ef­forts to trim bulging stocks of the sweet­ener and bridge a widen­ing trade deficit. Pro­duc­ers’ body In­dian Sugar Mills As­so­ci­a­tion and China’s state trader COFCO have al­ready signed an ini­tial deal for 15,000 tonnes of sugar, the min­istry said in a state­ment.

Last month, the min­istry said In­dia was keen to sell more rice and sugar to China to help cut the widen­ing trade deficit. In­dia’s ex­port to China in 2017-18 amounted to $ 33 bil­lion, while im­ports stood at $ 76.2 bil­lion.

In­dia is the largest pro­ducer of sugar in the world with 32 mil­lion tonnes pro­duc­tion in 2018. It pro­duces sugar of all three grades- raw, re­fined and white.

“In­dian sugar is also of a high qual­ity and is Dex­tran free be­cause of the min­i­mum time taken from cut to crush. In­dia is in a po­si­tion to be­come a reg­u­lar and de­pend­able ex­porter of high qual­ity sugar in sig­nif­i­cant vol­umes to China,” the min­istry added.

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