BEIJING: China imported 140,000 tonnes of sugar in November, down 48 percent from a year ago, as firmer global prices hurt purchases, customs data showed on Wednesday.
China, the world’s largest sugar consumer, has been buying less from overseas markets as global supplies tighten. Benchmark prices shot to nearly 24 cents a pound in early October, more than double the levels in the third quarter of 2015, but have since given up some gains. Beijing recently sold over 300,000 tonnes of sweetener from its reserves in the first such auctions in five years, boosting supply in domestic markets.
