No Sugar Price Hikes In The Foreseeable Future Kazakh Agric...| MENAFN.COM

Monday, 04 July 2022 05:47 GMT

No Sugar Price Hikes In The Foreseeable Future Kazakh Agriculture Minister


(MENAFN- Trend News Agency)

Agriculture Minister Yerbol Karashukeyev insisted Tuesday there will be no soaring sugar prices in Kazakhstan in the immediate future, Trend reports citing Kazinform .

While addressing the Government's traditional meeting on Tuesday, Minister Karashukeyev noted global sugar prices are rising. In Kazakhstan, however, prices are quite stable at KZT400-500 per kilo.

He revealed up to 32-35,000 tons of sugar will be produced in the country in May, while June will see the production of 40-45 tons of sugar.

According to Karashukeyev, this is enough to meet domestic demand and no sugar price hikes are expected in the foreseeable future.

The Kazakh Agriculture Minister added that slip in sugar prices will depend on global trends.

Earlier it was reported that Kazakhstan had imposed a 6-month ban on sugar exports starting from May 23.

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