India to export sugar to China

India to export sugar to China


Why in News?

 India will start raw sugar exports to China in early 2019, and is in talks to finalise exports to Indonesia and Malaysia as well.

Key facts:

*The first contract to export 50,000 tonnes of sugar had been entered into by the Indian Sugar Mills Association (ISMA) and Chinese public sector company COFCO.
*Raw sugar is the second product after non-basmati rice that China will import from India.
*It is a move to reduce the $60 billion trade deficit that China has with India.
*India’s exports to China in 2017-18 amounted to $33 billion while imports from China stood at $76.2 billion.
*India is the world’s largest sugar producer with a production of 32 million tonnes in 2018. *However, domestic consumption is only around 25 million tonnes, sugar producers have been left with large surplus stocks, driving down prices and affecting both mills and sugarcane farmers.








India to export sugar to China India to export sugar to China Reviewed by The Hindu Current Affairs on November 10, 2018 Rating: 5

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