Russia has imposed a ban on the export of cane or beet sugar, as well as chemically pure sucrose until August 31, 2024. This was reported by Interfax citing a resolution of the Russian government.
The decision aims to maintain stability in the domestic food market, as stated in the document.
The resolution includes several exceptions. For instance, sugar supplies are possible to EAEU countries in certain quantities. Specifically, exports to Armenia are allowed up to 28 thousand tons, Belarus - 5 thousand tons, Kazakhstan - 120 thousand tons, Kyrgyzstan - 28.5 thousand tons. The Ministry of Agriculture is tasked with distributing these volumes among exporters.
The necessity of the sugar export ban is justified by "concerns about the activation of sugar supplies abroad." "In this situation, it is important to have sufficient carryover stocks for the new season," said one of Interfax's sources.
The Russian Ministry of Agriculture noted that Russian sugar is one of the most affordable in the world, which stimulates demand for it in the global market. This season, countries such as Turkmenistan, Afghanistan, Turkey, North Korea, and Senegal have started importing it.
