In its 63rd council meeting, International Sugar Organisation (ISO), headquartered in London, has announced India to be the Chair of the organisation for 2024.
Key points
- India has been the largest consumer and second largest producer of sugar in the world. With about 15% share in global sugar consumption and about 20% production of sugar, Indian sugar trends affects the global markets profusely.
- This leading position makes India as the most suitable nation to lead International Sugar Organisation (ISO) which is the apex international body on sugar and relating products having about 90 countries as members.
- With Brazil in the Western Hemisphere, India is the market leader in Eastern Hemisphere for sugar market.
- Now, India is the 3rd largest country in the world in ethanol production after USA and Brazil.
