The world sugar meet is being organised by the UK-based sugaronline.com, one of the leading online sugar trading platforms, that witnessed the first online sugar transaction earlier this month. After going live in November last, the sugar portal saw the first transaction through an enquiry from an European-based soft drinks bottler for 1,200 tonne of white sugar in one tonne bags, for a fixed destination which was matched by a member of the London-based Refined Sugar Association.

Global sugar industry's apex body International Sugar Organization (ISO) last month, had estimated that global sugar output during 2000-01 is seen at around 130.65 million tonne, down by some 2.5 per cent, even as consumption at 132.95 million tonne was seen rising by some two per cent. These figures show a demand-supply gap of some 2.4 million tonne, up from previous estimates of shortage of 2.15 million tonne.

In constrast, India's sugar production has been rising and is said to have reached a record of 18.5 million tonne for the sugar year 1999-2000 (Oct to Sept). According to Indian Sugar Mills Association (ISMA) secretary SL Jain, India has a sugar stock of about 19 million tonne at the start of the new sugar season that commenced last October.

Further, ISO has maintained that the deficit of sugar would not result in real shortage of sugar on the market, bearing in mind the high stocks accumulated during previous surplus seasons. The impact of these sugar surpluses, are witnessed on the prices which are not too wobbly. So, even when the sentiments are said to be bullish (because of the demand-supply gap) the prices are unlikly to see a sharp jump on the international commodity bourses where sugar is traded. These and other related aspects of the global sugar industry, are expected to be discussed at length at the colloquium. Participants include USA's senator Pat Roberts, World Perspectives' senior analyst Dave Juday, Mexican Sugar Chamber chairman TX Jose Pinto; International Dairy Foods Association vice president IL Janet Nuzum; US House of Agriculture Committee, professional staff DC Lynn and US Sugar Cane Refiners Association president Nick Kominus.

Meanwhile, the Indian sugar Mills Association (ISMA), New Delhi, alongwith National Federation of Cooperative Sugar Factories Ltd and Sugar Technologists' Association of India are expected to organise South Asia's Sugar Economy and Asia's first ever focused session on Ethanol Industry developments. The details are being worked out said a source.