As per media reports, Braziliain sugar industry body industry UNICA claims that the recently subsidy for sugar export by the Indian Govt. will protract the cycle of low global sugar prices. The claim extends that the announcement of the subsidy by the Indian government is also harming free competition in the global sugar market and does lie not in accordance with the rules set by the World Trade Organization (WTO). Brazil, Australia and Guatemala once again have questioned the subsidies at the WTO.
However, India recently disagreed the claims made by Brazil, Australia and Guatemala saying that its support programmes for hold intent to assist over 35 million vulnerable low-income resource-poor farmers to have a just and equitable share in economic development. It maintained that its measures were consistent with global trade rules, and did not create any adverse effect in the global sugar market.
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