Sao Paulo — Brazilian and Australian sugar industry groups are working together with their respective governments to prepare a formal complaint to the World Trade Organisation (WTO) over any possible sugar export subsidy by India, a top Brazilian sugar official said. Brazil and Australia view any subsidy by India, set to take over as the world’s largest sugar producer in 2018, as a grave threat to a recent price recovery, Eduardo Leão, executive director at Brazil’s cane industry group Unica, said in an interview. The two countries reached a consensus regarding the need to act at the WTO level if India moves to provide an export subsidy to sugar producers, Leão said on Tuesday. Analysts and sugar traders are expecting such a move by India as the country would be willing to put in the market a large local surplus built after a record crop in 2018, and amid expectations for another big output in the coming season. "We have heard comments that India could launch a export subsidy," Leão...

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