Russian Ministry of Agriculture: Limiting sugar exports will allow the fulfillment of obligations to the EAEU

Published 2024년 3월 13일

Tridge summary

The Russian Ministry of Agriculture is proposing a temporary limit on sugar exports to ensure supply agreements with EAEU partners and maintain domestic market stability. This comes as sugar production in Russia is projected to increase by 9.8% to 6.8 million tons in the 2023-2024 agricultural season, due to a high sugar beet harvest. The affordability of Russian sugar has attracted new global importers such as Turkmenistan, Afghanistan, Turkey, the DPRK, and Senegal.

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

Original content

The proposal to temporarily limit sugar exports will allow us to fully implement supply agreements with EAEU partners and ensure a stable situation in the domestic market. The press service of the Russian Ministry of Agriculture told reporters about this. “The regulatory measure proposed by the Russian Ministry of Agriculture will allow us to fully implement the agreements on sugar supplies to our partners in the EAEU and ensure a stable situation in the domestic market,” the Ministry of Agriculture believes. As the ministry said, in the current agricultural season (from August 1, 2023 to July 31, 2024), sugar production in Russia is forecast to amount to 6.8 million tons, which is 9.8% more than last season, while domestic consumption is about 6 million tons. “The positive dynamics of production is associated with the high harvest of sugar beets, which, according to Rosstat, amounted to 53.1 million tons in 2023 and became the second in the history of the country,” the message ...

Source: Milknews