The EEC Board has created its recommendations on the development of cooperation between the EAEU states, having determined the vector along which the sugar market should develop in the future.
The development of this document took more than a year, so it has a defining status.
Main principles declared as core:
Creation of equal conditions in the sugar market for all EAEU member states.
Formation of a favorable investment climate in this industry.
As part of this, 5 priority goals were set:
Ensuring the level of production of sugar beet and sugar in the EAEU countries, which would make it possible to cover domestic consumption and ensure exports.
Increasing the yield of sugar beets. For this, it is planned to use the most modern agricultural technologies, as well as new equipment that meets the requirements of today.
To overcome dependence on imports of seed, as part of this, it is planned to develop our own selection.
Raise the level of environmental friendliness of production. This should increase their energy efficiency through resource-saving technologies.
Improve trading by developing its exchange mechanisms.
The Eurasian Economic Commission increased the quota for sugar imports
In the current season, a fairly high quota for sugar imports to the EAEU countries has been set: 780,000 tons.
This quota is set for the period from December 2021 to August 2022.
This is 43% more than the last year’s quota, which was valid from May 15 to September 30, 2021. That quota was only 546.8 thousand tons.
This increase was the result of a reduction in domestic sugar production on the territory of the EAEU member countries.
Last year there was a reduction in crops, which led to a decrease in production immediately by 30%. At the same time, the sugar reserves that were available on the territory of the EAEU decreased to the minimum values.
This forced the EAEU commission to increase exports in order to saturate its domestic market.
At the same time, it is planned that incentives for producers will help to increase the area under crops again, and new technologies will increase the yield of sugar beets.
As a result, a course has been set to switch to full self-sufficiency in sugar in the near future, and then to restore exports from the EAEU countries.
During 2021, sugar prices increased by 26-32%, which creates favorable conditions for the development of its production.
