Indian traders selling old season sugar to Iran after subsidy: Report

Indian mills are aggressively selling old season sugar to Iran after New Delhi announced a subsidy to help cash-strapped mills export a surplus, five traders said, asTehran strives to secure food supplies under US sanctions.

Exports from the world's biggest sugar producer could put pressure on global prices but will help India reduce its inventories that have driven down domestic prices. Trading houses have contracted to export to Iran about 350,000 tonnes of sugar for shipments landing in October to December at about Rs 21,600.....

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