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. Last Updated: 07/27/2016

Sugar Duty to Be Reviewed

The Economic Development and Trade Ministry expects the government in September to examine setting a higher seasonal tariff on raw cane sugar imports from December 2007 to the end of May 2008, a ministry source said Thursday.

"We have basically agreed to setting the tariff with most government ministries. And now we are expecting an answer from the Finance Ministry," said the source, who declined to be identified.

The Russian Sugar Producers' Union has backed the introduction of a $250 per ton tariff from January to May and in December 2008, instead of the current $140, to protect domestic sugar beet growers and refiners from excessive imports. But government departments involved in the process have disagreed over the tariff level. The union in July agreed to a tariff rate of $220 per ton.

President Vladimir Putin has instructed the government to "examine the issue of stimulating investments in sugar production, including setting higher seasonal import tariffs" by Aug. 1., according to a copy of Putin's order.

The Economic Development and Trade Ministry source said that even if the Finance Ministry decides to oppose the tariff, a draft resolution would be sent to the government.