Russia to Keep Raw Sugar Import Duty at $140 a Ton in May

Russia will keep its tax on raw sugar imports at $140 a metric ton in May, the Customs Union Commission of Russia, Belarus and Kazakhstan said.

The duty is based on monthly sugar prices in New York, with a one-month lag, according to the Customs Union Commission, which oversees the tariffs for Russia, Belarus and Kazakhstan. The sweetener was calculated at 24.73 cents a pound, or $545.26 a ton in March, according to a statement on the commission’s website today.

The rate was also $140 a ton in April and is expected to stay at that level through July, according to the commission data.

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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