13 Jun 08 India likely to Import Sugar from Brazil
India is likely to import sugar from Brazil, as the domestic production of sugar in India has gone down drastically this year. Following the global slump in sugar prices, many Indian farmers who normally cultivate sugracane have now shifted to cultivating other crops in their fields. In the global market, the prices of sugar have slumped by over 15% in the past one month alone giving it the honour of being in the list of top 3 worst performers, in June 2008, among the various commodities present in the UBS Bloomberg Constant Maturity Commodity Price Index.
India is the second largest sugar producer in the world, next only to Brazil. It is also one of the largest consumers of sugar. With the slump in domestic production, India might soon start importing sugar from Brazil once again after a period of four years. Brazilian sugar is arguably the best in the world when it comes to quality. Infact, there are over 40 different Sugar Types available in Brazil.
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