Belarus, Kazakhstan and Russia: Three countries - one sugar market

摘要

At the end of 2009, Belarus, Kazakhstan and Russia set up a Customs Union with common import tariffs to become effective from January 1st 2010. As a result, the world economy is witnessing the creation of a new common market with a combined population of 170 million people. In sugar terms, the new economic entity consumes nearly 6.2 million tonnes a year while domestic production does not exceed 4 million tonnes, making the new Custom Union an important driver of the world sugar market with regard to import demand.