Sri Lanka ups sugar import tax on low global prices.

Sri Lanka raised import tax on sugar by 8 Sri Lankan rupees (3.3 Indian rupees) per kg on Tuesday as prices of the sweetener declined in global markets. Prices of sugar in international markets are currently low due to a rise in output in Brazil, among the world’s largest producers and exporters of the commodity. Mills in Brazil Centre-South region produced 3.41 million tonne sugar in the second fortnight of July, up 9.5% from 3.12 million tonne in the year-ago period, the country sugarcane industry association.