SME Times News Bureau | 08 Nov, 2018
Export of raw sugar from India to China will begin
early next year, said the Ministry of Commerce on Thursday.
A contract for exporting 15,000tonnes of raw
sugar has been entered to by the Indian Sugar Mills Association (ISMA) and
COFCO, a Government of China run public sector company, said an official
release of the ministry.
This is due to the initiative taken by the
Ministry of Commerce and several rounds of meetings held by officials of both
countries the import of raw sugar has materialized now, it added..
India plans to export 2 MT of raw sugar to China
beginning from next year. Raw sugar is the second product after non-basmati
rice that China will import from India.
It is a move to reduce the USD 60 billion trade
deficit that China has with India. Indiaâs export to China in 2017-18 amounted
to USD 33 billion while imports from China stood at USD 76.2 billion.
India is the largest producer of sugar in the
world with 32 MMT production in 2018. India 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.
