Commodity Market Update- China to firm up long-term pact for Sugar import
The Chinese delegation is exploring ways of firming up long-term arrangements for the import of Sugar from India. A high-level delegation from the Chinese Sugar industry has visited Delhi, Uttar Pradesh, and Maharashtra, two states which account for the bulk of production in the country.
India had earlier asked China to consider releasing its raw Sugar export quota for 2019 earlier than January. The Chinese government normally releases Sugar quota for January-June in the middle of January. The reasoning behind this is by then mills would start producing white Sugar and switching to raw Sugar would be difficult, said an official.
Raw Sugar is the second item that China agreed to import from India this year after starting shipments of non-basmati Rice. A contract for exporting 15,000 tonnes of raw Sugar has been entered into by the Indian Sugar Mills Association (Isma) and China’s COFCO. The Sugar industry is hopeful of gradually raising exports to 2 million tonnes to China per year.
The National Federation of Co-operative Sugar Factories (NFCSF) feels China could eventually emerge as a major consumer for Indian Sugar if things move the way it has been envisaged.
The Chinese delegation was satisfied with the information about practices concerning production, processing, storage, and transport of Sugar in India.
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