Russian’s Ministry of Agriculture has prepared a draft government decree banning sugar exports from Russia until August 31, 2024. The document is posted on the website regulation.gov.ru.
The draft resolution suggests implementing a temporary prohibition on the export of cane or beet sugar, as well as chemically pure sucrose in solid state (code 1701 HS of the EAEU) from the Russian Federation. The ban is proposed to be in effect from the date of the resolution’s enactment until August 31, 2024, inclusive. Notably, the decree outlines exceptions, indicating that the ban will not apply to sugar exported to EAEU countries within volumes specified by indicative balances. However, it emphasizes the necessity of export permits issued by the Ministry of Agriculture, following an approved procedure.
As per media report, discussions regarding the potential ban on sugar exports took place at the Ministry of Agriculture towards the end of February. The rationale behind this measure was expressed as a response to concerns about the heightened influx of sugar supplies abroad. Government want to ensure, in this situation, it is important that there are sufficient rolling stocks by the new season.
