INTERNATIONAL SUGAR ORGANIZATION (ISO)

INTERNATIONAL SUGAR ORGANIZATION (ISO)

Why in News?                                                                                                        

In its 63-council meeting, International Sugar Organisation (ISO), headquartered in London, has announced India to be the Chair of the organisation for 2024.

What is International Sugar Organization (ISO)?

• The International Sugar Organization is the unique intergovernmental body established in 1968 devoted to improving conditions on the world’s sugar market through Debate, Analysis, Special Studies, Transparent Statistics, Seminars, Conferences and Workshops.
• The ISO is based in London, the 87 member states of the ISO represent (based on data for 2022):
• 87% of world sugar production
• 64% of world sugar consumption
• 34% of world imports
• 92% of world export.
• 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.