Q25. DISCUSS THE SUGAR TRADE OF THE WORLD.
GIVE THE DETAILS OF SUGAR IMPORTING AND EXPORTING COUNTRIES.
There is competition between tropical and temperate areas. Temperate countries are the big consumer so sugar therefore, they are also the important importers of sugar. They could provide the protection to their local sugar industry by levying high import duty on sugar.
On the contrary, world trade had to face a chaos when the prices decreased to minimum and world surplus of sugar increased. An agreement was signed amongst twenty two sugar consuming and producing countries which could not be implemented for along time due to the Second World War. Consequently, a fresh agreement came into effect in 1953 which was renewed in 1958 and second time in 1983.
Cuba was the biggest sugar exporting country in the world up to 1980. Cuba used to export a large part of the sugar to United States of America but afterwards, it started to export to Russia, East Europe and China also. Apart from Cuba, the big sugar exporters are Russia, Philippine, Peru, Brazil, Domican, Mauritius and Taiwan.
The most important sugar importing country is United States of America followed by Japan, France, Canada, Russia and Britain. Although India produces sugar on the large scale but the local consumption, due to very thick population, is so high that the she imports sugar rather to export.