India to import more white sugar as UP removes ban
India is going to import more white sugar rather than going ahead with the import of raw sugar, for the month of February. Indian authorities are planning to buy 97,100 tons of white sugar and 68,000 tons of raw sugar from the international market, reported a private news agency, Reuters.
This is a change in trend since India till now had gone for higher imports of raw sugar and not of the white one.
It is for the first time that the country is going for refined material and not raw material in sugar.
During the month of January, 339,537 tons of raw sugar was bought as against 53,700 tons of whites.
Meanwhile, Uttar Pradesh (UP) government has removed a ban on rail transport of imported raw sugar. The state is the largest producer of sugarcane in the country and had imposed a ban so as to control the price of the commodity.
Reacting to both the news, the sugar stocks went down and all of them closed at a low. India was forced to import sugar from outside after the output in the country reduced.