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India mulls sugar export tax, zero import duty

India is considering imposing a tax on sugar exports and dropping a 10 percent import duty to help curb overseas sales and keep a lid on domestic prices as a drought threatens farm output, government sources said on Tuesday.

The government also plans to release an extra 500,000 tonnes of sugar in August to beef up supplies in the local market, where prices have surged. Each month, the government decides the quantity mills can sell in the open market.

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