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India to allow sugar exports for 2012/13 season

India, which is likely to produce a sugar surplus for its third year in a row, has decided to allow exports for another year, food minster KV Thomas said, reflecting confidence about domestic supplies in the world’s top consumer of the sweetener.

However, mills and traders will have to wait for a formal order to export sugar in the new season that began on October 1. India, also the world’s top producer after Brazil, has been exporting for the past two years.

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