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Economy

Thailand cuts 500,000 tons of raw sugar exports amid plunging prices

Production to be reallocated to local ethanol makers as biofuel demand rises

A worker harvests sugar cane in Thailand   © Getty Images

BANGKOK -- Thailand, the world's second biggest sugar exporter after Brazil, has decided to cut its exports of raw sugar by at least 500,000 tons this year, as a swelling global surplus and falling prices make it less worthwhile to export it.

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