14 April 2004 10:03
RAW SUGAR IMPORT DUTY TO BE $206/TONNE IN MAY - ECONOMICS MINISTRY
MOSCOW. April 14 (Interfax) - The import duty on raw sugar brought into Russia will be $206 per tonne in May, as
opposed to April's $235, the Economic Development and Trade Ministry press service reported on Wednesday.
This duty was based on average monthly May contract prices for raw sugar on the New York Commodities Exchange in
March.
The average monthly price on the exchange in March was $143.21 per tonne ($124.12 per tonne in February).
"The Average monthly price for raw sugar is calculated as average- arithmetic from raw sugar closing prices on
the New York Commodities Exchange per current May contract for all the trading days in March 2004," the ministry
said in a statement.
As reported earlier, the Russian government passed a resolution on tariff regulation of imported raw sugar and white
sugar in 2004 that stipulates the customs duty rate (in U.S. dollars) is to be determined in correspondence with raw
sugar quotations on the exchange.
[Interfax] |
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