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Business & Finance

Russia may remove sugar import tax, extend some fixed retail prices

  • Russia, one of the world's largest wheat exporters, has imposed several grain export taxes and a series of other measures since December as it seeks to stabilise domestic food inflation.
Updated 23 Mar 2021

MOSCOW: Russia may remove its tax for imports of up to 350,000 tonnes of white sugar between May 15 and Aug. 31, the government said in a statement on Monday.

Russia, one of the world's largest wheat exporters, has imposed several grain export taxes and a series of other measures since December as it seeks to stabilise domestic food inflation.

As part of these measures, Russian sugar and sunflower oil producers agreed price reductions for their products with retail chains until the end of March.

The government will discuss an extension of these agreements with producers, Monday's statement said.

The ones for sugar may be extended until June and for sunflower oil until October.