Holding large stocks, China is likely to import only 2.2 million mt of sugar this year, nearly half the 4.54 million mt that was imported in 2013, the China Sugar Association said on Monday, the China Daily reports. The executive vice-president of the association said that 6 million mt of sugar in reserves plus a certain amount of carry-over stock would reduce the need for a large amount of imports in 2014 and also place a cap on global sugar prices.
Separately, the deputy director-general of the department of rural economy at the National Development and Reform Commission said that to use the international market and its own resources more efficiently, China has started tweaking its subsidy policies for farm products such as sugar by offering flexible price subsidies for state reserves to match international prices. (15 July 2014)
Holding large stocks, China is likely to import only 2.2 million mt of sugar this year, nearly half the 4.54 million mt that was imported in 2013, the China Sugar Association said on Monday, the China Daily reports. The executive vice-president of the association said that 6 million mt of sugar in reserves plus a certain amount of carry-over stock would reduce the need for a large amount of imports in 2014 and also place a cap on global sugar prices.
Separately, the deputy director-general of the department of rural economy at the National Development and Reform Commission said that to use the international market and its own resources more efficiently, China has started tweaking its subsidy policies for farm products such as sugar by offering flexible price subsidies for state reserves to match international prices. (15 July 2014)
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