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Thursday, Feb 10, 2005

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Mumbai sugar meet to discuss alliance

Our Bureau

Mumbai , Feb. 9

THE Sugar Summit 2005, an industry event scheduled to take place in Mumbai during February 11-12, will take stock of the latest developments within the country and outside as also crystal-gaze the shape of things to come in the near future, the organisers, Teflas Conferences and Events, said.

Two critical issues that would come up for discussion are whether there is a role reversal for India — from being an exporter to becoming an importer of sugar; and the second, whether a grand Asian sugar alliance is possible among the four regional majors — India, China, Indonesia and Thailand.

Mr John Cropley, an expert from the well-known London-based consultancy, LMC International, would make a presentation on the global sugar scenario and emerging issues.

Role of sugar cooperatives as also role of futures trading as a hedging instrument would be discussed. The meeting has evoked enthusiastic response because the country's sugar sector is at the crossroads.

After four years of rising production, the sugar economy has turned from surplus to one of shortage. This is reflected in firm prices.

Currently, raw sugar is imported to tide over shortfall in indigenous production. A price outlook session with experts from India and abroad has been scheduled. Participants in the conference include sugar mills in the private and cooperative sectors, multi-national trading houses, financial institutions, sugar technologists, analysts and service providers.

India Cargo Convention 2005: Concurrently with the sugar meet, a half-day seminar on the role of ports and shipping industry in the movement of bulk cargo has been organised by Teflas Conferences and Events jointly with All-India Liquid Bulk Import Export Association. Speakers include customs commissioners, senior port officials, maritime law professionals and service providers who will share their perception of how to improve operational efficiency.

The meeting will take stock of ways and means to strengthen the country's export/import activities by reducing costs and delays.

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