UPDATE 2-India sees sugar output 7 mln T below demand
* Duty-free imports likely to be extended
* Opening stocks fall to 2.2 mln T against 10 mln T yr ago
* Sugar consumption seen at 22.5-23.0 mln T
(Adds trade, analyst comments on stocks, imports)
By Mayank Bhardwaj
NEW DELHI, Nov 4 (Reuters) - India will consume up to 7 million tonnes more sugar than it will produce in 2009/10, and the imported raw sugar being processed in the new season will not be enough to bridge the deficit, Farm Minister Sharad Pawar said.
"Even after imports, we have a shortfall of 3-4 million tonnes," Pawar said.
On Tuesday, the head of commodity research at Morgan Stanley, Hussein Allidina said he expected India to import about 7 million tonnes. [ID:nL3346197] Continued...
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
India
US
UK
