The Ministry of Agriculture of Uzbekistan denied rumors about an increase in sugar prices

    Social medium 8 April 2024 1171

    A temporary ban on sugar exports from Russia cannot affect retail prices in Uzbekistan, the Ministry of Agriculture of the republic said.

    The Subcommittee on Customs Tariff and Non-tariff Regulation, protective measures in foreign trade of the Russian Federation approved a ban on sugar exports until August 31, 2024, Interfax writes, citing sources. Similar media reports have provoked rumors about an increase in sugar prices in Uzbekistan.

    "Restricting sugar exports from Russia will not cause a shortage in the domestic market of Uzbekistan, since the activities of the country's large sugar factories are not connected with Russia," the Ministry of Agriculture said.

    Uzbekistan's annual sugar demand averages 650-700 thousand tons. At the same time, two operating sugar factories of Angren Shakar LLC and Khorezm Shakar LLC are capable of producing more than 900 thousand tons of products per year. This is enough to ensure the domestic market, the ministry explained.

    Currently, two sugar factories daily produce 2,100 tons of products for the domestic market, of which only 300 tons are sold on average.