In­done­sia keen to buy su­gar from In­dia

Maritime Gateway - - International News -

In­done­sia is in­ter­ested in buy­ing su­gar from In­dia but wants lat­ter to cut im­port duty on re­fined palm oil and the sweet­ener sub­stan­tially to 45 per cent and 5 per cent, re­spec­tively. While In­dia is the world's largest su­gar pro­ducer with huge quan­tity of ex­portable sur­plus, In­done­sia is a ma­jor pro­ducer of ed­i­ble oils, par­tic­u­larly palm. In­dia is in talks with var­i­ous coun­tries in­clud­ing China and In­done­sia to ex­port sur­plus su­gar and help mills clear cane ar­rears to farm­ers.

In­dia is sit­ting on a sur­plus stock of over 10 MT on record pro­duc­tion of su­gar last year and ex­pects bumper out­put this year. In­dian gov­ern­ment has asked millers to ex­port 5 MT of su­gar manda­to­rily this year and is even giv­ing fi­nan­cial as­sis­tance to fa­cil­i­tate trade. So far, 8 lakh tonne of su­gar has been ex­ported.

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