Russia imposed a ban on the export of cane or beet sugar, as well as chemically pure sucrose until August 31, 2024. Interfax reported, citing a decree of the Russian government.
«The decision is aimed at maintaining the stability at the domestic food market,» the document says.
The resolution provides for a number of exceptions. Thus, supplies of sugar are possible to the EAEU countries in certain volumes. In particular, it is allowed to export 28,000 tons to Armenia, 5,000 tons — to Belarus, 120,000 tons — to Kazakhstan, and 28,500 tons — to Kyrgyzstan. The Ministry of Agriculture has been instructed to distribute these volumes among exporters.
The need to ban sugar exports is justified by «concerns about the increased supply of sugar abroad.» «In this situation, it is important to have sufficient carryover stocks for the new season,» one of Interfax’s sources said.
The Russian Ministry of Agriculture noted: Russian sugar is one of the most affordable in the world, which stimulates demand for it on the world market. This season, in particular, Turkmenistan, Afghanistan, Turkey, North Korea and Senegal have started importing it.
