Russia simplifies sugar import procedures due to rising demand

Russia’s Ministry of Agriculture simplified sugar import procedures after a surge in domestic demand declared the governmental body on Thursday, March 24

Many Russians rushed to buy sugar and other staple items after Western nations imposed sanctions on the country in response to what Moscow calls a “special military operation” in Ukraine, which drove food prices up in March.

Authorities have repeatedly told people that there is no need to stock up food.

Thus, the Ministry of Agriculture will require few documents from companies that carry out import operations of white sugar into Russia.

Russia banned sugar exports until August 31 and set a duty-free quota for imports of 300,000 tonnes of white sugar and raw sugar as measures to ease domestic food inflation.

These measures, along with the planned increase in the country’s beet crop area in 2022 to 1.1 million hectares, should be enough to boost domestic supply, stated officials this month.

A ship with 44,000 tonnes of raw sugar has already arrived in Russia as part of the duty-free quota, and the product will be delivered to refineries soon, the Agriculture Ministry said on Thursday.

Russia is expected to produce more than 6 million tonnes of sugar this year and increase the beet planting area by 70,000 hectares, the Russian union of sugar producers said at an online conference on Thursday. The country produced 5.9 million tonnes of the product in 2021.

Source: Money Times

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