IKAR in Mass Media

Russia Plans to Raise Sugar Import Tax 57 Percent

Sept. 26 (Bloomberg) -- Russia, the biggest sugar importer, plans an increase in a seasonal duty on shipments of the raw form of the sweetener to help the country's beet farmers.

The Economy Minstry's proposal to raise the duty to $220 a metric ton from $140 a ton was submitted to the cabinet yesterday, the ministry said in an e-mailed statement today.

Russia may produce as much as 3.5 million tons of refined sugar this season, according to Evgeny Ivanov, a sugar analyst at the Institute of Agriculture Market Studies. The country consumes about 5.8 million tons a year.

The ministry proposes imposing the tariff from Dec. 1 until May 31, 2008, if the average price of sugar is $198.43 a ton or more, the ministry said in the statement. The duty would increase to $235 when the average price is between $182.99 and $198.42, and climb to $250 when prices are between $99.22 and $182.98.

The tariff must be signed and published by the government before it comes into effect.

19 октября 2007 года

Source: Bloomberg | #sugar | Comments: 0 Views: 66

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