IKAR in Mass Media

Russia customs union Oct sugar import duty $140/T

06 сентября 2010 года

MOSCOW, Sept 3 (Reuters) - The customs union of Russia, Belarus and Kazakhstan has set an import tariff for raw cane sugar at $140 per tonne for October, down from $171 in September, the union's executive commission said on Friday.

The tariff rate, pegged to the New York sugar price, corresponds to the August average price of 19.22 cents per lb or $423.73 per tonne, according to the commission's statement.

The commission sets the tariff before the 15th day of every month for the next month and bases its rate on the average price for the preceding month.

Analysts at the Institute for Agricultural Market Studies said in July they did not expect any large raw sugar imports from June -- when the tariff rose to $200 per tonne from $50 in May -- at least to the end of the year.

Russia, the world's third-largest sugar buyer, has imported around 1.8 million tonnes of raw sugar this year, the bulk of that in May because of the low tariff.

The tariff was $239 per tonne in July and $203 in August.

Source: Reuters | #sugar | Comments: 0 Views: 48

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