Imports of sugar by China back almost a quarter in 2014

Chinese imports of sugar fell 23 percent in 2014, to 3.49 million tonnes, customs official figures showed on Friday, after a fall in prices on the market of second world consumer demand boost sweetener by the local product.
China was the biggest importer of sugar in the world in 2013, after a sharp drop overall prices boost purchases abroad of the product cheaper.
Imports fell last year with domestic prices losing almost 20 percent of its value until the third quarter, pressured by huge commercial stocks.
The United States Department of agriculture predicts that Indonesia is the world's largest importer of the commodity in 2014/15.
Commercial sources expect Chinese imports in 2015 to reach approximately 3.3 million tons.
China allows 1.94 million tons of imported sugar into the country each year at a rate of 15 percent, as part of its commitments to the World Trade Organization.
Chinese sugar refineries have agreed to limit imports of extra sweetener quota on 1.9 million tons this year, according to trade sources.
The Brazil world's largest exporter of the commodity,, was the principal supplier of sugar to China in 2014, with landings of 2.1 million tonnes.