Sugar exports from Russia last year were the second highest in history

In 2024, Russia achieved a significant milestone in its sugar export history, successfully exporting approximately 1 million tons of sugar, a 30% increase from the previous year. This performance is marked as the second highest in the country's history, with an anticipated shipment of 850 thousand tons in the latter half of the year, despite potential global market price drops. The Eurasian Sugar Association's Chairman, Andrey Bodin, commends the potential for growth in raw sugar exports, which saw a substantial increase from 45 thousand tons in 2023 to 260 thousand tons in 2024, with a projected production of 550 thousand tons in 2025. This growth is supported by the inclusion of 19 factories in the production process, up from six the previous year. The CIS countries are identified as potential markets for Russian raw sugar, drawn to its quality, transport accessibility, lower storage costs, and the possibility of transactions in national currencies, offering advantages such as long-term contracts and reduced reliance on global market prices.