Bloomberg News

Russia Will Keep Raw Sugar Import Duty at $140 in February

January 12, 2012

(Updates with sugar prices monitoring in third paragraph.)

Jan. 12 (Bloomberg) -- Russia will keep the raw sugar import duty at $140 a metric ton in February, the Customs Union Commission data show.

The duty is based on monthly sugar prices in New York, with a one-month lag. A minimum rate of $140 a ton is applied from August through April if the monthly average price in New York exceeds $396.84 a ton, according to the commission.

The average raw sugar price in New York was calculated at 23.42 cents a pound, or $516.22 a ton in December, the commission, which oversees the tariffs for Russia, Belarus and Kazakhstan, said on its website today.

--Editors: John Deane, Dan Weeks

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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