At the annual general meeting of The Bombay Sugar Merchants' Association, the president, Mohan Gurnani, announced that future trading of sugar will only be possible after the Indian government completely decontrols the trade, "while retaining the monthly release mechanism and maintaining a comfortable buffer stock."Gurnani revealed that this season would witness a sugar stock carry-over of 99.45 lakh tonnes. Sugar consumption in India this season was up 5 lakh tonnes from the 150 recorded last season, and production had similarly risen to 181.5 lakh tonnes from the 155.41 lakh tonnes of the previous season. He also commented on the need for improvement within the country's infrastructure if 2000-01 export targets of 10 lakh tonnes are to be surpassed. Import duty is currently 60% on sugar, and its price on the international market is US$272 per tonne.
INDIA: Sugar trade must be decontrolled
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
Dean's offer to you
Risk-free, money-back guarantee
Most Popular
Insights
- How could Whole Foods takeover affect suppliers?
- Minor role for direct-to-consumer in US e-commerce
- How Nestle's US candy review has divided analysts
- Amazon's move for Whole Foods will focus minds
- Interview: The UTZ, Rainforest Alliance merger
News
- Nestle invests in US meal-kit firm Freshly
- UK proposes end to free movement in Queen's Speech
- Moy Park among assets on block at meat giant JBS
- Nestle to work with Rabobank's Terra accelerator
- CVC 'hires advisers for Continental Foods sale'
Market research
