Russia suspends sugar exports until August to stabilize domestic market

This measure, effective immediately and lasting until August 31, 2024, aims to ensure stability in the domestic food market.

The announcement clarifies that exceptions exist for certain member countries of the Eurasian Economic Union (EAEU).

Armenia, Belarus, Kazakhstan, and Kyrgyzstan will be allowed limited sugar imports, with quotas set at 28,000 tons, 5,000 tons, 120,000 tons, and 28,500 tons respectively.

The Ministry of Agriculture will be responsible for distributing these quotas among participating foreign trade entities.

The decision to suspend sugar exports was initially approved on April 5 by a government subcommittee focused on customs regulations, trade policies, and protective measures. (ILKHA)