IKAR in Mass and Industry Media

Russia’s Raw-Sugar Duty May Fall to $140 in October, IKAR Says

Bloomberg

Aug. 23 (Bloomberg) -- Russia’s raw-sugar import duty may fall to $140 a metric ton in October, the Institute for Agriculture Market Studies said, citing preliminary calculations based on the sweetener’s price in New York.

“If sugar prices stay at the same level, the duty will be at $140 a ton in October,” Evgeny Ivanov, a sugar analyst at the institute, also known as IKAR, said by telephone today. The duty will be $171 a ton in September, according to the Customs Union Commission.

Recent rains in the drought-hit areas in central Russia and along the Volga have been “of some help” to the sugar beet plantings, he said. IKAR forecasts sugar output from domestically grown beet at between 2.8 and 3 million tons.

24.08.10

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