The government approved a ban on sugar exports from Russia until the end of summer

Published 2024년 4월 7일

Tridge summary

The Russian government has implemented a ban on sugar exports, including cane or beet sugar and pure sucrose in solid form, effective until August 31. This decision, aimed at addressing the surge in sugar exports which have increased by 3.3 times to over 700 thousand tons, was influenced by concerns over low carry-over inventories despite a 9.8% increase in sugar production to 6.8 million tons this year, thanks to a record sugar beet harvest. The ban, reported by Interfax and based on a draft resolution from the Ministry of Agriculture, includes exceptions for supplies previously agreed within the EAEU and for humanitarian assistance.

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

Original content

The government subcommittee on customs, tariff and non-tariff regulation and protective measures in foreign trade this Friday approved a ban on the export of sugar from Russia until August 31 of this year. Interfax reports this with reference to market sources familiar with the decision of the subcommittee. The corresponding draft resolution was prepared in mid-March by the Ministry of Agriculture. It dealt with limiting the export of cane or beet sugar and chemically pure sucrose in a solid state. These products have code 1701 of foreign economic activity (FEA) of the EAEU. However, a number of exceptions were introduced for it. For example, by decision of the ministry, it is allowed to supply goods to the territory of the EAEU in volumes previously agreed upon by the department and the countries of the bloc, and it is also allowed to export it to provide humanitarian assistance and as part of international transit transport. However, according to sources, the ministry itself ...

Source: Rosng