June 17, 2016 1:35 PM

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Sugar shares fall by up to 10% on imposition of export duty

Sugar shares today fell sharply by up to 10 per cent after the government imposed 20 per cent customs duty on sugar exports. The Government yesterday imposed 20 per cent customs duty on sugar exports to boost domestic supply. The duty has been imposed to restrict exports following sharp rise in global prices. The duty is, however, lower than 25 per cent proposed by the Food Ministry. India is the world's second largest sugar producer of sugar after Brazil.

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