Indonesia keen to buy sugar from India
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.