Pricey white sugar gets interest from Indian buyers
China Daily | Updated: 2010-01-21 07:57
NEW DELHI: India, the world's biggest sugar consumer, may increase refined sugar imports as processing capacity for the raw variety fails to meet demand, an industry official said.
Purchases may reach 2 million metric tons in the year ending Sept 30, up from 225,000 tons in the previous 12 months, said RL Tamak, business head for sugar at the Indian unit of Olam International Ltd.
Indonesia, Iraq, Egypt, Pakistan and Tanzania are among nations planning to import sugar to cool local prices, straining global supplies. India may have to buy at least 7 million tons this season, with white sugar making up about a third of the total, Macquarie Group Ltd said in a report this month.
Photo
