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Brazilian President Rousseff to Rule Out Tax on Sugar Exports, Estado Says
Posted on April 22, 2011
Brazilian President Dilma Rousseff will probably rule out a plan to tax sugar exports to spur more ethanol production and lower prices, O Estado de S. Paulo reported, citing an unidentified government official.
Rousseff is likely to discard the idea next month after receiving criticism from groups including Unica, the Brazilian Sugar Cane Industry Association, the newspaper said. A levy on sugar exports could end up making Brazil less competitive, O Estado said.
Agriculture Minister Wagner Rossi said the government is studying other ways to contain ethanol prices, according to O Estado.
To contact the editor responsible for this story: Laura Price at lprice3@bloomberg.net