Russia Temporarily Restricts Sugar Exports

The Russian government has imposed a temporary ban on the export of sugar derived from cane and beet, as well as chemically pure sucrose, until August 31, 2024. This information was reported by the government on its Telegram channel.

"The decision is made in consideration of maintaining stability in the domestic food market," the statement said.

It was noted that a certain volume of sugar can still be supplied to EAEU countries. In particular, Armenia is allowed to export 28, Belarus 5, Kazakhstan 120, and Kyrgyzstan 28.5 thousand tons of sugar. The Ministry of Agriculture of the Russian Federation has been tasked with distributing these volumes among exporters.

The decision on the temporary ban on sugar exports was confirmed on April 5 during a meeting of the Subcommittee on Customs, Tariff and Non-Tariff Regulation, and Protective Measures in Foreign Trade of the Government Commission on Economic Development and Integration.

In March, the Russian Ministry of Agriculture announced that from August 1, 2023, to the end of February 2024, over 700 thousand tons of sugar have been exported from the country, which is 3.3 times higher than the figures for the same period last year. According to the ministry, the export restriction will help maintain sufficient volumes of transportable reserves and ensure EAEU partners have access to sugar.

The agency noted that Russian sugar is among the most affordable in the world, which stimulates demand for it in the global market. This year, the geography of Russian sugar supply has significantly expanded. Specifically, it has begun to be imported by Turkmenistan, Afghanistan, Turkey, North Korea, and Senegal.