China agrees to im­port raw sugar from In­dia

ISMA, COFCO sign con­tract for 15,000 tonnes

The Hindu Business Line - - FRONT PAGE -

China has fi­nally agreed to buy raw sugar from In­dia fol­low­ing months of ne­go­ti­a­tions. Ex­ports are ex­pected to be­gin early next year, ac­cord­ing to the Com­merce Min­istry.

“A con­tract for ex­port­ing 15,000 tonnes of raw sugar has been en­tered to by the In­dian Sugar Mills As­so­ci­a­tion (ISMA) and COFCO, a Govern­ment of China run pub­lic sec­tor com­pany,” an of­fi­cial re­lease is­sued on Thurs­day stated. In­dia plans to ex­port two mil­lion tonnes of raw sugar to China be­gin­ning next year

In­dia plans to ex­port two mil­lion tonnes of raw sugar to China be­gin­ning next year, it added. ISMA has set a tar­get of to­tal sugar ex­ports of 5 mt in the 2018-19 sugar year (Oc­to­ber-Septem­ber).

Raw sugar is the sec­ond prod­uct af­ter non-bas­mati rice that China has agreed to im­port from In­dia this year fol­low­ing talks be­tween of­fi­cials from both sides. This is part of the ef­fort to check the grow­ing trade deficit be­tween China and In­dia, which crossed $60 bil­lion in 2017-18.

In­dia is the world’s No. 1 pro­ducer of sugar, with 32 mt pro­duced in the 2018 sugar year. It pro­duces sugar of all three grades: raw, re­fined and white. In­dian sugar is of high qual­ity and Dex­tran free be­cause of the min­i­mum time 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 re­lease added.

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