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Taism Zahid on Muck Rack

Taism Zahid

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India Sugar Rally Driven by Speculation, Official Says

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By Rajendra Jadhav Verified, YP Rajesh Verified, Taism Zahid
| GuruTrade
NEW DELHI, Aug 24 - India has enough sugar stocks to meet festival-season demand, with a record price rally ​driven by speculative buying rather than any real supply ‌shortfall, the head of the country's top sugar industry body said on Monday. Sugar prices in India, the world's biggest consumer of the sweetener, have jumped more ​than 40% in two months to a record high, prompting ​New Delhi to allow duty-free imports of 1 million metric ⁠tons of raw sugar for the first time in nearly ​a decade.
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