Home >> Stock Forums >> China buys Indian sugar despite record harvest

China buys Indian sugar despite record harvest

lil dickie said: "China must really be expecting a huge increase in demand for sugar. Because they just [url=http://www.livemint.com/2007/09/17152942/China-buys-Indian-white-sugar.html]just bought[/url] Indian sugar despite 50% tariffs and a record crop at home. [quote] India is expected to overtake Brazil as the world’s top sugar producer in the year beginning in October. A lack of storage may force it to export at lower prices later this year. Normally, Chinese mills and traders do not import unless they hold the quotas for the lower tariff rate of 15%. This year, Beijing only granted 30% of its 1.945 million tonnes of TRQs to private companies. Many of the remaining quotas, granted to state-owned firms, have yet to be issued. Two cargoes of Indian white sugar totalling 60,000 tonnes were imported under the higher tariff and were offered at 3,950 yuan ($525) per tonne in the northern port city of Tianjin.[/quote] Apparently the Chinese are getting quite a sweet tooth. “Sugar consumption just grew rapidly this year, particularly from the food and soft-drinks industries,” I guess "Dental plans" will be on the rise their soon as well."

AlfredSokol said: "Yes. The Chinese seem to have some seriously addictive personalities. Perfect consumers, really. :th_dblthumb2:"