Sugar market news from Russia and Belarus, Dec 23, 2020

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The State Duma adopted a law that will allow the government of the Russian Federation to independently determine trigger level of price growth for socially important food products in order to interfere with regulations. Currently, the law on trade provides that in the event that prices for socially significant food products in one or several regions of the country increase by 30% or more over a month, the Russian government has the right to set maximum retail prices in these regions for up to 90 days. The new law removes the threshold of 30%, but keeps such measures valid for 90 days.


As of December 23, 2020, sugar beets were sold in the amount of 2 million 843 thousand 400 tons on account of the state order in Belarus, which is 100% of the required volume, the Ministry of Agriculture of the Republic of Belarus reports.



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