KYIV: Ukraine is planning to import 120,000 tonnes of white sugar exempting 50% import duty on it. The economy minister of Ukraine has proposed this in a draft law presented to the Parliament on Thursday.
As per the draft it should be implemented until Oct. 1 but it is not clear that when the Parliament will consider the matter.
Ukraine produced 5 million tonnes of white sugar a year in Soviet times but has since cut annual output to about 1 million tonnes because of a decrease in consumption and competition from cheaper cane sugar.
Now Ukraine needs to import 110,000 tonnes of sugar to meet domestic requirements as the country has recorded lower sugar production, said the ministry.
Ukraine in February and March had imported 40,000 tonnes of sugar. The country has produced 1.1 million tonnes of sugar in the 2019/20 season while its domestic consumption is 1.2 million tonnes per season, said the ministry.