Duty for raw sugar imports to Customs Union to go unchanged at $140/tonne in Sept
MOSCOW. Aug 20 (Interfax) - The duty for importing raw sugar into the Customs Union will remain unchanged in September in comparison with previous months, at $140 per tonne.
According to a letter composed by the Russian Federal Customs Service (FCS), raw sugar averaged at $501.71/tonne on the New York Mercantile Exchange in July. In accordance with the unified customs tariff for the Customs Union, approved by the Eurasian Economic Commission's (EEC) council on July 16, 2012, at this price the import duty for raw sugar is $140/tonne.
According to the tariff approved by the EEC, in the period from January 1 to April 30 and from August 1 to December 31, at an average monthly price of up to $286.60/tonne on the New York Mercantile Exchange, the duty will be $270/tonne; at a price of $286.61 to $324.08 it will be $240; at $324.09 to $361.56 it will be $203; at $361.57 to $396.84 it will be $171; and at $396.84 or higher it will be $140.
In the period from May 1 to July 31, at an average monthly price of up to $286.60/tonne, the duty will be $270/tonne. At a price of $286.61 to $326.28, the duty will be $227; with a price of $365.98 to $405.65 the duty will be $205; with a price of $405.66 to $445.33 the duty will be $183; at a price of $445.34 to $485.02 the duty will be $162; and if the price is $485.03 or higher the duty will be $140.
The floating duty on raw sugar has been operative in Russia since 2004.