China Could Become Top Sugar Importer BY 2020 -CBA

China Could Become Top Sugar Importer BY 2020 -CBA

China could become the world’s top sugar importer by 2020, buying 4 million-5 million metric tons a year, if its per capita consumption grows 4.4% annually this decade, Commonwealth Bank of Australia forecast.

In the first 11 months of 2011, China imported 2.42 million tons, up 48%, data from the Hong Kong-based China Customs Statistics Information Center showed last month.

China’s annual per capita sugar demand is just around 7.6 kilograms, the CBA said in an industry note, citing FAO data.

It could rise to 12.6 kg by 2020 and 20.0 kg by 2030. Total consumption could post a 63% gain in the 2010-2020 period, it said.