First batch of imported sugar brought to Russia duty-free
2021-07-20 09:18

First batch of imported sugar brought to Russia duty-free

The first 37.4 thousand tons of imported sugar have been imported into Russia without duty, Rossiyskaya Gazeta writes citing the data of the country's Ministry of Agriculture.

Such volume of sugar arrived in Russia under the signed contracts, according to the department, as of July 9. The main suppliers are Algeria, Morocco, the United Arab Emirates (UAE), Brazil and Germany.

The Ministry of Agriculture notes that in conjunction with other measures to support and regulate the sugar industry quota for duty-free imports "helps to increase the supply of sugar on the domestic market and provide industrial consumers with the necessary raw materials.

Please be reminded that the duty-free import of sugar into Russia will be in force from May 15 to September 30, 2021. Until then, the import duty on white sugar from countries outside the Eurasian Economic Union was $340 per ton. Up to 350 thousand tons can be imported during this time. The Ministry of Agriculture believes that the measure will not only meet the country's needs for sugar, but also stabilize prices in the domestic market, which jumped up by more than 20% in 2020 due to reduction of beet areas and bad weather.

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Author: Karina Kamalova