India plans to export two million tonnes of sugar to China from next year, says government
India is the largest producer of sugar in the world with 32 million tonnes production in 2018.Updated: Nov 08, 2018 19:17 IST
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.
First Published: Nov 08, 2018 18:01 IST