LONDON/BEIJING (Reuters) – 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. Vast tonnages of sugar smuggled into China are believed to be produced mostly in India or Thailand and shipped to Myanmar, Laos or Vietnam before entering the Chinese mainland. The crackdown comes as Beijing faces pressure from industry to extend hefty sugar import tariffs beyond 2020 and keep growth in licensed imports into China historically low. …read more
Source:: Yahoo Finance
