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Russia, Partners Keep Raw Sugar Duty at $140 a Ton in November

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Nov. 1 (Bloomberg) -- Russia, Belarus and Kazakhstan will keep the raw sugar import duty at $140 a metric ton in November.

Under a joint customs agreement, Belarus, Kazakhstan and Russia tax raw sugar imports according to monthly prices in New York trading, with a one-month lag before changes take effect.

The average raw sugar price in New York was calculated at 27.70 cents a pound, or $610.69 a ton in September, the Customs Union Commission, which oversees the tariffs for the three countries, said on its website.

The minimum tax at $140 a ton is applied from August through April if the monthly average price in New York exceeds $396.84 a ton. The duty can fall to as little as $50 a ton from May through July.

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