Russia not planning to implement new quota on duty-free imports of sugar - Abramchenko

MOSCOW. Nov 24 (Interfax) - Russia does not plan to implement a new quota on duty-free imports of sugar, and will choose the existing one, Deputy Prime Minister Victoria Abramchenko told reporters on Thursday on the sidelines of the first annual Russian Wine Forum in Moscow.

"We are not raising the issue of a new volume of cane sugar imports, and we are only extending the 120,000 tonnes [remaining for 2023]," Abramchenko said.

The deputy prime minister recalled that the quota for duty-free imports of sugar to Russia is 300,000 tonnes, as calculated until December 31, 2022. "Thus far, it has not been selected. Today, we still have 120,000 tonnes remaining, and this will be enough for us until the next harvest," Abramchenko stressed.

Abramchenko recalled that the decision on importing duty-free sugar was taken "when there was volatility with sugar prices, when there was hoarding, and sugar prices rose very sharply". A decision was taken at the level of the Eurasian Economic Union (EAEU) "to import cane sugar at least for confectioners".

Russia has harvested over 45 million tonnes of sugar beets this year, which should produce 6.2 million tonnes of sugar, with domestic consumption at 5.9 million tonnes, Abramchenko said.