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Indonesia leads rising demand for Australian sugar, shipper says

Indonesian sugar imports are helping drive demand for supplies from Australia following the global economy’s recovery from recession, according to Queensland Sugar Ltd, the country’s largest exporter.

Sugar demand in Asia exceeds annual supply by 30 percent in key markets in Asia, Wilmar International Ltd said in Singapore on Tuesday. Wilmar this week agreed to buy CSR Ltd’s Sucrogen unit, Australia’s top miller, for AUD1.75 billion (USD1.5 billion) and said the purchase would help its expansion in Indonesia.

(Source: BusinessWeek)