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