LONDON/BEIJING - A crackdown on sugar smuggling into China has left abundantly supplied markets in elsewhere Asia struggling to absorb excess supplies, causing a wider storage problem for global markets.
Those flows should more than halve this year to about 800,000 tonnes versus previous years when between 1.5-2.8 million tonnes would be smuggled in, according to Wang Weidong, a sugar analyst based in southern China. However, following two straight years of surplus, the world market has some 95 million tonnes of stock to absorb, the ISO said. That is equivalent to about six months worth of demand and is disproportionately concentrated in Asia.China’s tariffs should leave official sugar imports into the country little changed this year at around 3 million tonnes, said Justin Liu, China-based senior sugar analyst at Chaos Research Institute.
“Everyone is speaking from their own interest. Why produce so much when you can’t consume it?” he added. FILE PHOTO: Yan Wenliu, 36, sprays pesticides at a sugar cane field at a village in Menghai county in Xishuangbanna Dai Autonomous Prefecture, Yunnan Province, China, July 12, 2019. REUTERS/Aly Song/File Photo
'FILE PHOTO: White sugar products are placed for sale at a supermarket in Beijing, China 🇨🇳 September 4, 2017. REUTERS/JASON LEE/FILE PHOTO'
I am very curious no others can consume the sugar storage except China?
way to go! less sugar, more healthy people
So white! Using Clorox?
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