Russia bans sugar exports

The Russian government has announced that sugar exports have been temporarily banned.

In a written statement from the Russian government, it was stated that measures regarding sugar exports were taken to maintain stability in the country's food market.

Accordingly, the statement noted that sugar exports are banned until August 31, 2024, and that certain exemptions have been granted for exports to Kazakhstan, Belarus, Kyrgyzstan, and Armenia.

According to data from the Russian Ministry of Agriculture, while 6 million tons of sugar are consumed annually in the country, approximately 6.9 million tons of sugar are expected to be produced this year.