Russia Sets March Raw Sugar Import Duty at $140 a Ton

Russia will keep its tax on raw sugar imports at $140 a metric ton in March, the Customs Union Commission of Russia, Belarus and Kazakhstan said.

The average raw sugar price in New York was calculated at 24.05 cents a pound, or $530.17 a ton in January, the Customs Union Commission, which oversees the tariffs for Russia, Belarus and Kazakhstan, said on its website.

The duty is based on monthly sugar prices in New York, with a one-month lag. It will stay at $140 a ton for May through July, the commission said last week. A minimum rate of $140 a ton will be applied for August through April if the monthly average price in New York exceeds $396.84 a ton, according to the commission.