Russian sugar producers agree to sell at least 10% of products on exchange - anti-monopoly service

MOSCOW. June 14 (Interfax) - Russian sugar producers are ready to assume voluntary commitments to sell at least 10% of the sugar that they produce on the exchange beginning from the 2023-2024 production season, the Federal Anti-monopoly Service (FAS) said in a statement.

According to the FAS, the companies presented the initiative at a meeting of the exchange committee on developing organized trading in agricultural products.

The FAS and other interested agencies supported the initiative.

Participants at the exchange committee meeting particularly set the criteria for assessing market participants' compliance with the voluntary commitments, as well as a framework for overseeing their compliance, according to the press release.

"Sugar producers' implementing the initiative should ensure liquidity of exchange trades in sugar, thereby resulting in becoming the basis for forming a representative exchange index," the FAS believes.