Report: Brazil shelves plan to tax sugar exports

04/25/2011 | Reuters

Brazil's government is abandoning plans to tax sugar exports as a way to encourage ethanol production, according to a report in the Estado de Sao Paulo newspaper. The sugar industry raised concerns that an export tax might push up global prices of the sweetener, the report said. There is no guarantee that an export tax would spur mills to shift to ethanol production, observers added.

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