Russia, the world's top sugar buyer, said on Friday it would keep its raw cane sugar import tariff at $140 per tonne in May, flat on the previous seven months.
Under the Russian tariff calculation scheme the rate is set each month. The rate is pegged to the average New York futures price for the three preceding months.
The Russian Institute for Agricultural Market Studies (IKAR) forecast that the tariff would remain unchanged at least until August, while imports of raws would keep rising.
"Imports of raw sugar to Russia stood at 780,000 tonnes in the first quarter. Imports were significantly higher than in the same period of last year, when they were just 555,000 tonnes," IKAR said in a note.
IKAR expects Russia to import around 300,000 tonnes of raw sugar in April.
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