29th August, 2010: The 2nd Indian Sugar Summit in New Delhi next week (31st August to 2nd September) will be a crucial forum for discussion on the potential for deregulation of the Indian sugar industry. The Summit is being organised by the Kingsman Group which has a global reputation for advising many of the world’s sugar and biofuels producers and industrial users, as well as banks, trade houses, oil companies, private equity and hedge funds.
The 2nd Indian Sugar Summit will bring together experts from around the world who will share their experience and explain the legislative structure in their own countries. Senior officials from the Indian private and co-operative sectors will give their opinion as to what deregulation might mean for them.
Leading officials from India’s co-operative and private sectors will address the Summit, as will sugar users and major retailers. Meanwhile traders will be watching the proceedings carefully for indications as to what deregulation might mean for both the international and the domestic markets.
Manager Director, Kingsman SA, Mr Jonathan Kingsman said that over the past few years Indian sugar production had been on a roller coaster ride. “India has swung from exporter to importer and then back again to exporter, all within a short time frame. When India was in surplus, the world market was in surplus. When India was in deficit, the world market was in deficit,” Mr Kingsman said.
He said these wild swings in Indian production led to violent swings in world sugar prices, making life difficult for producers and consumers around the globe, but most especially in India itself. He added,
“India’s sugar production and consumption are broadly expected to be in surplus for the 2010/11 crop year. This will give the Indian government a window of opportunity to remove some of the constraints on the sugar industry and, in the process, even out the production cycle.”
Mr Kingsman said that among all the industries in India, the sugar sector was the most regulated with government intervention at almost every level. However, he believes the Government will address a range of sugar-industry related issues in the coming weeks and expected that many of the views to be canvassed will be discussed at the 2nd Indian Sugar Summit. “Many of the parties in the Indian sugar and ethanol industries foresee a stronger industry with less volatility in production if some of these issues can be worked through constructively – but this remains to be seen.”
“If all parties work together in the spirit of mutual cooperation then India can develop the modern, efficient, fair, and environmentally friendly sugar industry that the country deserves. If done correctly, deregulation will help all stakeholders,” Mr Kingsman said
The 2nd Indian Sugar Summit will be held at The Imperial, New Delhi. It will open with the Welcome Reception on Tuesday 31st August. Conference sessions will be held on Wednesday 1st and Thursday
2nd September 2010. Please contact Jann@Kingsman.com for further information about this key event.
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