The government of Russia has introduced a temporary ban on sugar exports

Published 2024년 5월 6일

Tridge summary

Russia has implemented a temporary ban on the export of sugar, including cane or beet sugar and chemically pure sucrose, effective until August 31, 2024, to ensure the stability of its domestic food market. This ban, however, exempts supplies to EAEU countries, with the Russian Ministry of Agriculture overseeing the distribution of these exempted volumes. In addition, the government has announced a reduction in the export duty on wheat to 3,277.7 rubles per ton for the week of May 8 to May 14, down from 3,386 rubles, while setting the duties on barley and corn to zero. These measures, as reported by the Cabinet of Ministers and based on information from the Agroanalytics Center, aim to adjust the domestic market dynamics and international trade relations in the agricultural sector.

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

Original content

At the same time, the export duty on wheat will decrease to 3,277.7 rubles/t from May 8 In Russia, a temporary ban is being introduced on the export of cane or beet sugar and chemically pure sucrose. A resolution on this has been signed, as reported in the Telegram channel of the Cabinet of Ministers. The restriction will be in effect until August 31, 2024. The decision is aimed at maintaining the stability of the domestic food market, the report notes. This provides for a number of exceptions. Thus, it will be possible to supply sugar to the EAEU countries: The distribution of these volumes between participants in foreign trade activities will be handled by the Russian Ministry of Agriculture. At the same time, the duty on the export of wheat and meslin from the Russian Federation from May 8 to May 14 will decrease to 3,277.7 rubles/t against 3,386 rubles/t for the period ...

Source: Specagro