Falling sugar production in the European countries would provide an excellent opportunity for Indian sugar exports to the European Union market, says a top government official.
Union Commerce secretary G K Pillai told reporters that anticipated decline in local production in the EU would provide the Indian sugar industry with an excellent export opportunity, that could be a natural hedge against domestic price fluctuations.
The Ministry of Commerce expects sugar production in the European Union to decrease 25 per cent by 2009, thanks to April 2005 ruling of WTO Appellate Body against subsidies to European farmers.
"The Indian industry has to decide whether we want to take the opportunity or not," Pillai said.
Asking the Indian sugar industry to seize the opportunity, Pillai drew a parallel with the capture of the European gherkin market by Karnataka. Today, exports of gherkins from the State (Rs 600 crore) account for about 90
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