Russia has banned sugar exports until autumn

The Russian government has banned sugar exports from Russia until August 31 of this year. This is done to “maintain the stability of the domestic food market.” All sugar produced will remain in the country until the end of summer. The market will be oversaturated, which means prices will not be able to rise significantly. In summer, during the harvesting period, sugar is in particular demand.

A strategically important product in minimal volumes can be exported to several countries of the Eurasian Economic Union: 5 thousand tons of sugar to Belarus, 28 thousand tons to Armenia, 28.5 thousand tons to Kyrgyzstan, and 120 thousand tons to Kazakhstan.

Limiting sales is unprofitable for businesses, but the authorities take such measures to maintain a stable environment.

Russian sugar is one of the most inexpensive, in-demand export products. According to the Ministry of Agriculture of the Republic, two Bashkir sugar factories sold $8.4 million worth of products abroad in January–April of this year, 12 times more than in January–April 2019.

The volume of Bashkir sugar exports in 2023 amounted to more than 71 thousand tons, worth $48.9 million.

By the spring of this year, the region completed the processing of sugar beets from the 2023 harvest - 277 thousand tons of product were produced from it. If we turn this volume into domestic consumption, each republic resident accounts for more than 55 kg of sugar annually. The medical norm is 8 kg per year, and actual consumption in the Russian Federation is 39 kg per year.

Author: Elina Akhmetova