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Govt plans 25% tax on sugar exports as drought bites

A move that could further push up global prices of the sweetener

Reuters  |  New Delhi 

India plans to introduce a 25% tax on sugar exports to maintain local supplies, the government said on Thursday, a move that could further push up global prices of the sweetener and boost shipments from Thailand. Sugar output in India, the World's no. 2 producer behind Brazil, is expected to decline this year due to a drought in major growing regions, while global prices have risen to two-and-a-half year highs. Food Minister Ram Vilas Paswan said the levy was aimed at curbing the country's exports and would help keep local prices under control in the world's top ...

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First Published: Fri, June 10 2016. 11:51 IST
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