INTERNATIONAL SUGAR ORGANISATION
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Context: India will chair the International Sugar Organisation (ISO) for the year 2024 a significant development that reflects the country's prominent position in the global sugar sector.
- India, as the largest consumer and second-largest producer of sugar globally, has been selected to chair the ISO in 2024. This decision was made during the 63rd council meeting of the ISO in London, highlighting India's increasing influence in the global sugar industry.
- India contributes 20% to global sugar production and holds a substantial 15% share in global sugar consumption. With these figures, India becomes an ideal candidate to lead the ISO, which comprises around 90 member countries.
- India is noted for being the payer of the highest cane price to its farmers while maintaining efficiency, profitability, and self-sufficiency without relying on government financial assistance. Over 98% of cane dues for the 2022-23 season have been cleared, and more than 99.9% of cane dues from previous seasons have been settled, reflecting the industry's commitment to farmers' well-being.
- India has kept domestic sugar retail prices consistent and stable, limiting the increase to just 5%, despite a global surge of about 40% in one year. This consumer-centric approach positions India as a responsible player in the global sugar market.
International Sugar Organization (ISO)
- The International Sugar Organization (ISO) is an intergovernmental organization that was established in 1968 to improve conditions in the world sugar market. It is based in London, United Kingdom.
- The ISO's main activities include:
- Gathering and publishing statistics on the world sugar market.
- Conducting research into new uses for sugar and related products.
- Providing a forum for intergovernmental discussions on sugar.
- Promoting the trade-in and consumption of sugar
- The ISO does not have the power to regulate the international sugar trade by price-setting or export quotas. However, its work helps to improve transparency and understanding of the sugar market, which can contribute to more stable prices and better incomes for sugar producers and workers.
- The ISO's membership represents over 90% of world sugar production and consumption. The ISO's Council, which is made up of representatives from all member countries, meets twice a year to discuss sugar market developments and to agree on the ISO's work program.
- India's leadership role in the International Sugar Organisation signifies its growing influence in the global sugar sector, and the country's commitment to sustainability, innovation, and the well-being of farmers and consumers.
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