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China's sugar imports could increase further yet
LLC Firm Astarta-Kyiv, Kyiv, Ukraine
Monday, May 07, 2012
A Chinese sugar production target "could be an indication" of rising import needs, US farm officials said, even as customs data showed buy-ins near-quintupling last month.
US Department of Agriculture staff in Beijing forecast China's sugar imports hitting 2.1m tonnes in 2012-13, a figure it termed "strong", if slightly below the 2.3m tonnes forecast for this season.
Many other forecasters have been more upbeat on China's sugar import prospects, with Peter Baron, the executive director of the International Sugar Organisation, on Monday stating that China would prove a "big importer" in 2011-12, of some 3m tonnes.
"They produce around 11m tonnes but they need 14.0m-14.5m tonnes," Mr Barron said.
The official ISO forecast is for Chinese imports of 3.38m tonnes this season.