Why did the price of sugar rise sharply?

Фото: egemen.kz
Фото: egemen.kz

Today, the rise in sugar prices has not bothered anyone. Why has sugar become so expensive? This question was answered by the Minister of Agriculture of the Republic of Kazakhstan Karashukeyev Yerbol Shyrakpayuly.

According to him, the rise in sugar prices in the country is due to its value on the world market.

"For example, the price of cane sugar is determined on the London Stock Exchange, and the price of sugar is determined on the New York Stock Exchange. The cost of sugar is directly related to trading on the stock exchange. Rising prices are a global trend. That's why our prices have risen, ”he said.

According to research, in 2012 the country imported 506.9 million tons of sugar and raw sugar. 275.8 million tons of it were imported from Russia.

After the West imposed sanctions on Russia in 2022 in connection with the outbreak of the war in Ukraine, Russia restricted the export of certain types of food and sugar. As a result, sugar prices have risen in many regions of the country.

According to statistics, the price of sugar in Kazakhstan has increased by 60.5% over the year.

Roza Dauletkhankizi 

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