MOSCOW, May 3. The Russian government has introduced a temporary ban on the export of cane or beet sugar, as well as chemically pure sucrose, according to the Cabinet of Ministers’ Telegram channel .
The validity of this measure is until August 31, 2024, its goal is to stabilize the domestic food market, the authors of the initiative explained.
However, there are some exceptions to the resolution. In particular, sugar can be supplied in some volumes to the countries of the Eurasian Economic Union. 28 thousand tons can be exported to Armenia, five thousand tons to Belarus, 120 thousand tons to Kazakhstan, 28.5 thousand tons to Kyrgyzstan.
According to Rosstat, from mid-April sugar began to fall in price, since the beginning of the year its cost has increased by 3.6%.
As noted by the Ministry of Agriculture, domestic sugar is one of the cheapest in the world and, therefore, is in demand. In total, from August to February, the volume of supplies was 3.3 times higher than in the same period a year earlier.
Taking into account the needs of the Russian market, the Ministry of Agriculture calculated that about 200 thousand tons of sugar could be exported by the end of the 2023/24 season . According to the department, this volume should be received by the EAEU states.