This measure was introduced to stabilize the domestic food market.
A temporary ban on the export of cane or beet sugar, as well as chemically pure sucrose, introduced by the Russian government, will remain in effect until the end of August this year. This is reported in the Telegram-channel of the Cabinet of Ministers. This measure is introduced to stabilize the domestic food market.
At the same time, the government decree stipulates some exceptions. It concerns the supply of sugar in certain volumes to the countries of the Eurasian Economic Union. In particular, the export of this product to Armenia is limited to 28 thousand tons, to Belarus - five thousand, to Kazakhstan is not prohibited to import up to 120 thousand tons, to Kyrgyzstan - up to 28.5 thousand tons.
According to the Ministry of Agriculture, the price of Russian sugar is one of the lowest in the world, which gives rise to increased demand for it. From August 2023 to February of this year, the volume of foreign supplies increased more than three times compared to the previous similar period.
According to Rosstat, starting from mid-April, the price of sugar on the Russian consumer market began to decline, although its price has increased by 3.6% since the beginning of the year.