“The government has developed the necessary measures to prevent potential risks in the activities of local entrepreneurs producing and selling sugar and flour products in 2022,” the report said.

Today, there are two sugar factories in Uzbekistan – Khorezm Sugar and Angren Sugar. According to the committee, local factories are buying raw sugar from Brazil at lower prices than world stock quotes.

In particular, as of March 15, these plants have stocks of 260,000 tons of sugar products. Of this, 40,000 tons of finished sugar and 32,000 tons of raw materials will be delivered, and another 178,000 tons will be delivered by June.

According to the committee, in 2021, 27,000 tons of sugar were imported, which is 5% of the country’s needs. In turn, 1% of domestic market demand comes from imports from Russia and 0.7% from Ukraine. In addition, 0.2% of domestic demand for wheat was imported from Russia, while no wheat was imported from Ukraine.

Reportedly, restrictions on sugar and wheat exports in Russia and Ukraine will not affect the needs and prices in the domestic markets of Uzbekistan.

According to the UzEx data, According to the results of trading on March 1, the average price of sugar was 8227 soums, on March 15, the price increased by 9085.8 soums (+10.4%). On March 16, prices increased by 10.1% on a daily basis – to 10008.1 soums. The growth rate since the beginning of the month was 21.6%.

“In order to ensure the uninterrupted supply of sugar products to the domestic market, the daily volume of exchange trades is increased by an average of 30%,” the Antimonopoly Committee said.

Earlier, the Ministry of Agriculture announced that at least 30,000 tons of sugar (more than 1,000 tons of sugar per day) will be put up for auction in a month.

For information, 1,900 tons of sugar were sold on March 14, 2,927 tons – on March 15 and 2,000 tons – on March 16.