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The Ministry of Agriculture (Ministry of Agriculture) does not intend to extend the sugar export ban after August 31, said the department. Instead of radical bans, which they prefer, they plan to temporarily quota exports in case of a sharp drop in production. At the same time, leading expert of the Institute for Agricultural Market Studies (IKAR) Evgeny Ivanov agreed with lifting the ban, emphasizing that restrictions harm Russia's reputation and lead to a deterioration of prices in the global market. He also noted that the decision on exports will depend on production volumes and the ratio of global and domestic prices. However, Ivanov pointed out the issue of the export duty, levied on sugar and related products, and also called for its cancellation.
Restrictions on sugar exports were introduced in early May with quotas for EAEU countries. However, it is quite possible that these measures will be lifted in the near future.
Therefore, the Ministry of Agriculture currently sees no need to extend the sugar export ban after summer. They believe that temporary quota restrictions can address the issue of low yields. At the same time, experts agree with this decision but suggest abolishing the export duty, which has a negative impact on prices and export volumes.
Thus, the decision to extend the ban and lift the duty will depend on yields and market conditions. Much will depend on the decisions made by the Ministry of Agriculture. But it is already evident that export restrictions on sugar lead to reputational issues for Russia and have a negative impact on prices in the global market.
The Ministry of Agriculture plans to review the situation in the near future and make a decision taking into account the interests of EAEU partners. However, all these decisions will be crucial only if there is stability in supplies and financial relations, as well as compliance with quality and logistic conditions.
In turn, IKAR experts say that Russia should secure a more reliable position in the global market to sell sugar at global prices. To achieve this, it is necessary to lift bans and duties, as well as provide stability and reliability in all trade sectors.
Therefore, the decision to extend the sugar export ban will be made considering industry interests, as well as Russia's desire to establish a more stable position in the global market. Everything depends on production volumes, quality, and compliance with trade conditions. However, it is already obvious that export restrictions damage reputation and prices in the global market, so lifting bans and duties would be a step in the right direction.
Professional expert Ivanov calls for the cancellation of the export duty, citing its negative impact on the market and export volumes. He also notes that Russian sugar must be competitive in the global market, and for this, stability, reliability, and quality are necessary. Thus, lifting bans and duties will be an important step in the development of the industry and strengthening Russia's positions in the global sugar market.
