Russia simplifies sugar import process after domestic demand spikes

The agriculture ministry of Russia has taken steps to simplify the process of obtaining permits to import white sugar after the increase in the domestic demand, reports local media.

Sugar prices in the domestic market have increased after consumers rushed to purchase sweetener following the sanctions imposed by Western countries over the Russia-Ukraine crisis. The Russian authorities have several times asked citizens to not be panic and stockpile sugar as there is sufficient stock of it to cater the domestic demand.

Russia has banned the export of sugar till August 31 and made a duty-free import quota of 300,000 tonnes to ease domestic food inflation. According to officials, the sugar output in the country is likely to increase as the area under sugar beet has increased.

The agriculture ministry said that around 44,000 tonnes of duty-free raw sugar has already arrived in Russia and it would be sent to the refineries soon.

 

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