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India eyes Chinese sugar sector, plans to export 1.5 million tonnes

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  1 Jun 2018 6:30 PM GMT

Beijing, June 1 : India is eyeing the Chinese sugar sector as it plans to export 1.5 million tonnes of sweetener to the world’s largest importer this year.

At the ice-breaking meeting with China’s President Xi Jinping in Wuhan in April, Indian Prime Minister Narendra Modi mentioned that Indian sugar should get access to the Chinese market, which imports sugar mainly from Brazil and Thailand.

The leaders of both the Indian and Chinese sugar industries participated in a seminar to become major trading partners in the sector.

“India has a surplus of 7 million tonnes in this year and the next year it will almost be the same. So India has to find new markets for exports,” said Gaurav Goel, President, Indian Sugar Mills Association (ISMA).

“We export to Africa, Middle East, but China has been the market India has never tapped.”

“China imports approximately 4 to 5 million tonnes. India’s export of sugar to China has been very small. In 2007, India’s sugar export to China was 2 lakh tonnes. Now we target 1.5 million tonnes of sugar export. The value would be $350 million,” Goel added. (IANS)

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