The EEC Council decided to stabilize the EAEU sugar market in 2022

Published 2021년 12월 10일

Tridge summary

The Eurasian Economic Commission (EEC) has implemented a strategy to stabilize the sugar market within the EAEU for 2022, which includes a tariff benefit allowing for duty-free sugar imports until August 31, 2022, with specific volume limits for each member state. This measure is aimed at addressing potential sugar shortages and the resulting impact on food prices. The EEC will monitor global and average contract prices, sugar import volumes, and domestic market sales, with the possibility of adjusting import exemptions based on their findings. This initiative builds on a similar tariff concession provided during the previous year, from May 15 to September 30, 2021.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Council of the Eurasian Economic Commission made a decision to stabilize the EAEU sugar market in 2022, BelTA learned from the EEC trade block. “The Council of the Eurasian Economic Commission decided to provide a tariff benefit in the form of duty-free import of sugar in the period until August 31, 2022,” the EEC said. “Sugar imported into Armenia in the amount of no more than 60 thousand tons to Belarus is exempted - in the volume of no more than 100 thousand tons, to Kazakhstan - in the volume of no more than 250 thousand tons, to Kyrgyzstan - in the volume of no more than 70 thousand tons, to Russia - in the volume of no more than 300 thousand tons ". "Sugar is a socially significant food product, and the rise in prices for it may affect the cost of other food products. According to the forecast balance of production and consumption of sugar-containing products in the EAEU, a deficit is possible in the coming period, and therefore a new measure of customs and tariff ...

Source: Milknews