Brazil, Australia uniting to lodge a formal complaint over India’s sugar subsidy

Brazilian and Australian sugar industry groups are working together with their governments in preparing a formal complaint to the World Trade Organisation (WTO) over any possible sugar export subsidy in India, says Brazil’s top sugar official.     

Executive director at Brazil’s cane industry group Unica, Eduardo Leao told Reuters that Brazil and Australia view subsidies by India, set to take over as the word’s largest sugar producer this year, as a threat to a recent price recovery.

The countries say they will forward the matter to the WTO if India awards sugar producers with an export subsidy, says the executive director of Unica.

Sugar traders and analysts predict that India’s move looks to put in the market a large surplus built after a record crop this year, and amid expectations for another big output in the coming season.


Source: Perthnow

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