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Russia – Sugar imports brought forward as higher tariffs loom

Traders in Russia have brought forward purchases of Brazilian raw sugar to take advantage of cheap offers before a possible increase in the country’s import tariff on May 1, a Reuters report said.

In former years, Russia imported supplies mainly in the second quarter. But plentiful availability of sugar on the global market and cheap prices, combined with expectations among traders that Russia’s import tariff would rise on May 1 from the current level of $140 a tonne, had prompted importers to act sooner.

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