August 28, 2019 / 8:52 PM / 3 months ago

Brazil says India's subsidy will extend cycle of low sugar prices

SAO PAULO (Reuters) - New sugar export subsidies announced by the Indian government on Wednesday are unsustainable and will only prolong the current cycle of low global sugar prices, Brazilian sugar industry group Unica said on Wednesday.

Unica’s head Evandro Gussi said the move by India’s government hurt free competition in the global sugar market and was not in accordance with the rules set by the World Trade Organization (WTO).

Brazil, Australia and Guatemala have questioned the subsidies at the WTO.

Reporting by Marcelo Teixeira; Editing by Rosalba O'Brien

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