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Belarus extends term of state price regulation for sugar

Belarus extends term of state price regulation for sugar

3/18/2020

The EEC Board has agreed to extend the term of state price regulation for white crystals in Belarus from March 31 till December 31, 2020 inclusive.

Earlier, in accordance with the Treaty on the EAEU, state regulation was introduced in the Republic of Belarus from January 1 till March 30. The minimum prices for sugar produced (imported) and sold in Belarus as well as the maximum trade allowances to the manufacturer's (importer’s) price at the rate of 15% have been set.

The reason for introducing the state price regulation was downturn in working efficiency of sugar organizations in Belarus due to overproduction of white sugar both in the Eurasian Economic Union countries and in the global market.

The introduction of this measure enabled mitigating negative impact of white sugar price disparity in the internal market of Belarus as well as stabilizing the situation with the sale of such product by the Belarusian manufacturers.

The decision of the Commission’s Board helps consolidate this economic effect.

It is noteworthy that the introduction of temporary state regulation for sugar by the Republic of Belarus neither prevent other Member States’ enterprises from entering the market of this country, nor does it lead to a reduced number of market entities as a whole.​