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UPDATE 1-India seen regular exporter of white sugar-Cargill
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NEW DELHI, Sept 1 (Reuters) - India will emerge a regular exporter of white sugar from 2010/11, an executive from trading house Cargill told a conference on Wednesday, as companies step up processing of raw sugar in coastal regions.
"India is set to become a structural exporter of white sugar, thanks to Renuka and Silkroad," Jonathan Drake, head of sugar business unit, said at the Kingsman Indian Sugar Summit in New Delhi.
Drake, usually reclusive, was speaking on "World trade patters - opportunities for growth".
Shree Renuka Sugars Ltd (SRES.BO) and Silkroad Sugar have standalone refineries in coastal areas for which they import duty-free raw sugar and export refined or white sugar.
Drake said China's growing appetite for commodities will show for sugar as well. "China will emerge as one of the top 10 sugar importers next year (2010/11)," he said.
The sugar year globally runs from October to September, following the crop cycle. (Reporting by Mayank Bhardwaj and Ratnajyoti Dutta)
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