20 October 1998
Russia to replace sugar tariff system

THE Russian Government plans to replace the existing sugar tariff system with seasonal import duties.

A draft resolution calls for duties of 45% on raw sugar imports from 1 August to 30 November and 5% from 1 December to 31 July.

Russia more or less choked off imports of sugar from 1 August after it raised raw and white sugar import duties to 75% and 45% respectively, from 1% and 25%.

The move was in response to protests from domestic sugar producers.

Chris Pack, chief analyst at C Czarnikow Sugar in London, said the international sugar market would view the move postively.

There is still some uncertainty whether the measures will be implemented.

  • Financial Times 20/10/98 page 32