India will start exporting raw sugar to China from early next year.
Ministry of Commerce and Industry in a statement said that Indian Sugar Mills Association and COFCO, a public sector company of China have entered into a contract for exporting 15 thousand tonnes of raw sugar.
It said, India plans to export two million tonnes of raw sugar to China beginning next year. Raw sugar is the second product after non-basmati rice that China will import from India. The Ministry said, it is a move to reduce the 60 billion trade deficit that China has with India. It said, India’s export to China in 2017-18 amounted to 33 billion US dollars while imports stood at 76.2 billion dollars.
India is the largest producer of sugar in the world with 32 million tonnes of production in 2018. It 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.