Tuesday, March 14 2017 14:41
Alina Hovhannisyan

In 2016 Armenia reduced sugar import by 0.2% and suspended exports

In 2016 Armenia reduced sugar import by 0.2% and suspended exports

ArmInfo. In 2016 Armenia imported 61.5 thsd tons of sugar (down 0.2% versus 2015). In value terms, sugar imports dropped by 8.3% to $22.9 mln in 2016 versus 45.2% decline in 2015, according to the Customs Service of Armenia.

Sugar is mostly imported to Armenia from Brazil (94.1%), the UAE (2.5%) and Russia (2.2%).The source says that in 2015 Armenia reduced sugar export by 25% to 150.1 tons, and the total export fell on the UAE. A year later, in 2016, Armenia suspended the sugar export.

To note, 99.9% of sugar import is the share of Alex-Grig company owned by the family of Armenian oligarch lawmaker Samvel Alexanyan.

The International Sugar Organization (ISO) says the global sugar output will make up 168.33 mln tons for 2016/2017 (up 1.4% than in 2015/2016). Consumption is estimated at 174.2 million tons.  Importers' demand is estimated at 58.09 mln tons, while the exporters' supply is estimated at 58.25 mln tons. Forex Club experts say that in 2017 the world sugar prices will drop by 7.1%.

 

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