India to start exporting raw sugar to China from early next year: Commerce Min
New Delhi, Nov 9 (KNN) To bridge the widening trade deficit with neighboring country, India will start exporting raw sugar to China from early next year, said Commerce Ministry.
“A contract for exporting 15,000 tonne of raw sugar has been entered to by the Indian Sugar Mills Association and COFCO, a government of China run public sector Company,” said commerce and industry ministry in a statement.
After, non-basmati rice, raw sugar is the second product that China will import from India, said Ministry.
Further, it added that the move will aim to reduce the $60 billion trade deficit that China has with India.
India plans to export 2 MT of raw sugar to China next year onwards.
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.
India’s export to China in 2017-18 amounted to $33 billion while imports from China stood at $76.2 billion.