customs subcommittee approved a ban on sugar exports – Kommersant
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The Subcommittee on Customs, Tariff and Non-Tariff Regulation, Protective Measures in Foreign Trade approved a ban on the export of sugar from Russia until August 31, 2024, reported Interfax citing market sources. Draft resolution on temporary export ban in mid-March prepared Ministry of Agriculture.
According to the department’s proposal, the ban will not apply to the export of goods to the EAEU countries. As Kommersant was informed by the Ministry of Agriculture, taking into account the forecast volume of production and the needs of the domestic market, by the end of the season Russia will be able to export about 200 thousand tons of sugar and agreements with the countries of the union envisage the export of exactly this amount.
The resolution of the Ministry of Agriculture refers to cane and beet sugar, as well as chemically pure sucrose. The Ministry of Agriculture estimated the needs of the domestic market at 6 million tons per year, and this season production could reach 6.9 million tons (9.8% more than last year). Meanwhile, the agency takes into account the need to “ensure a sufficient level of sugar balances at the end of the current season” in order to avoid noticeable price fluctuations.
Read more about the Ministry of Agriculture’s proposal in the Kommersant article. “Ban on sweets”.
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