The Eurasian Economic Commission (EEC) Board adopted strategic decisions on the sugar market

Published 2022년 1월 23일

Tridge summary

The Eurasian Economic Commission (EEC) has introduced recommendations to boost cooperation among EAEU states in the sugar beet subcomplex. The measures aim to equalize economic conditions in the sugar market and create a favorable investment climate. This includes setting a temporary quota for preferential imports of white and raw sugar until August 2022, following a decrease in beet sugar production by over 30% in the 2020/21 season. The goal is to stimulate agricultural producers to increase sugar beet crops, improve equipment, and use advanced technologies, potentially allowing the EAEU to provide domestic market sugar through their own production in 2023 and reduce reliance on the world market.

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Original content

The Board of the Eurasian Economic Commission adopted the "Recommendations on the development of cooperation between the EAEU states in the sugar beet subcomplex". Over the past two years, the Eurasian Economic Commission (EEC), together with the Eurasian Sugar Association, have been working on the formation of a single strategic document, including measures to ensure equal economic conditions in the sugar market and create a favorable investment climate in the sugar beet subcomplex, in order to ensure stable production of beet sugar in volumes higher than its consumption in the countries of the EAEU (Union). The main provisions of the Recommendations for the development of the sugar beet industry are: Taking into account the forecasts for the production of beet sugar in the EAEU countries and in order to meet the needs of the domestic market, on December 2, 2021, the EEC Council for the second time in the entire existence of the EAEU decided to establish a temporary quota for ...

Source: Agroxxi