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Summit: Chinese sugar supply-and-demand gap to be 0.7 m tons

(chinadaily.com.cn)
Updated: 2009-08-31 13:20

The Chinese Sugar Industry Summit held in Hangzhou Saturday said the Chinese sugar market will have a gap of 0.7 million tons between supply and demand in the next one or two years, according to Shanghai Securities News.

Liu Hande, vice chairman of the China Sugar Association, predicted there will be a total sugar supply of about 13.3 million tons at the end of this year, with consumption expected to reach 14 million tons.

However, the summit predicted there will be a serious worldwide short supply of sugar. In India alone, the shortage is expected to be between 6.5 and 7 million tons, with a supply of 15.5 million tons and a consumption expected to hit 22 million tons this year, the chief representative of Bunge Corporation in Beijing, one of the world's four grain tycoons, said at the summit.