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    Economics Kazakhstan

    Kazakhstan imposes sugar export ban to secure domestic supply

    Kazakhstan imposes sugar export ban to secure domestic supply

    To ensure ample provisions of sugar for its citizens during the forthcoming summer season, Kazakhstan has implemented a ban on sugar exports until the end of August, an official information resource of the Prime Minister of the Republic of Kazakhstan reported.

    Photo: Bans sugar exports to secure domestic stockpiles
    Source: official information resource of the Prime Minister of the Republic of Kazakhstan official information resource of the Prime Minister of Kazakhstan

     

    The decision was reached during a session of the Interdepartmental Commission on Foreign Trade Policy and Participation in International Economic Organizations, led by Deputy Prime Minister Serik Zhumangarin on May 6. The focus of the meeting was to address the looming shortage of sugar in the domestic market prior to the arrival of the new sugar beet harvest.

    Presently, the nation's sugar reserves stand at approximately 256,000 tons, accounting for only half of its annual consumption demand, which ranges between 500,000 to 550,000 tons.

    Photo: Kazakhstan halts sugar exports until August
    Source: official information resource of the Prime Minister of the Republic of Kazakhstan official information resource of the Prime Minister of Kazakhstan

     

    Erbol Taszhurekov, the Vice Minister of Agriculture, elaborated on the current sugar inventory, stating;

    "Stocks of sugar and raw cane in warehouses today amount to 136,000 tons. Together with the quota for the import of Russian sugar in the amount of 120,000 tons until August 31, 2024, this is about 256,000 tons." 

    Taszhurekov emphasized that the existing reserves are more than sufficient to meet the demand until the arrival of the new harvest.

    To bolster its supply chain further, Kazakhstan intends to engage in discussions with Russian counterparts to augment the quota for Russian sugar imports by an additional 100,000 tons by year-end. Despite this move, the nation remains committed to maintaining uninterrupted sugar provisions for its citizens.

    As part of this commitment, the Interdepartmental Commission unanimously agreed to enforce a temporary prohibition on sugar exports from Kazakhstan to third countries, including members of the Eurasian Economic Union (EAEU), until August 31, 2024. However, it's important to note that this restriction will not impede international transit.

     

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    07.05.2024, 10:00   Comments (0)   1145
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