Pakistan gets ahead of India to bag sugar export quota from China

Published on : March 25, 2019 Topic : Companies
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Pune: Pakistan has taken a lead over India by winning a 300,000-tonne sugar export quota from China, according to traders. India has been waiting since long to bag the export quota from China.

“We are waiting to get sugar export quota to China, which is a huge market,” said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories.

The Indian embassy in Beijing had organised a seminar to promote exports of Indian sugar to China in June 2018. About 25 companies representing major stakeholders in China’s sugar industry including sugar refiners, importers and traders participated in the works hop. The China Council for the Promotion of International Trade, China Sugar Association and COFCO Sugar had also taken part.

PM Narendra Modi had discussed India’s sugar exports during an informal summit with Chinese president Xi Jinping in Wuhan in April 2018.

Indian traders have contracted 2.2 million tonnes of sugar for exports as of March 7, according to industry officials. “If we do not get access to the Chinese market this season, total exports may reach 3 million tonnes,” said Naiknavare.

Maharashtra has exported about 800,000 tonnes of sugar, including third-party exports. Uttar Pradesh has exported 300,000 tonnes and Karnataka too sent out 300,000 tonnes.

 

Source: The Economic Times
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