India to keep sugar export subsidies despite complaints from rivals
15 July 2019 - 17:24
Mumbai — India will keep its sugar export subsidies despite complaints to the World Trade Organisation (WTO) from rival producers Brazil and Australia, though it will tweak how it provides them, four sources directly involved in the matter said.
The export subsidies are designed to increase shipments from the world’s second-largest sugar producer and reduce their brimming inventories. But that could pressure global prices that have only eked out a 2.1% gain in 2019 after plunging more than 20% in 2018...
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