Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Economic Development and Poverty Reduction of Uzbekistan commented on the rise in sugar prices.

The agency, citing data from the State Statistics Committee, notes that today the average price for 1 kg of sugar in the domestic market is 9,500-13,000 soums. In some outlets, the price of sugar is up to 14,000 soums.

The ministry claims that in the CIS countries, sugar prices have increased by 52%. And this affects the inflation expectations of the population and entrepreneurs of Uzbekistan.

The rise in sugar prices is associated with the problems of delivery and logistics of raw materials for sugar production to the countries of Central Asia and rising fuel prices.

According to the agency, to date, the price of sugar on the London Stock Exchange has increased by 15% - from US$500 to US$575. At the same time, the cost of sugar delivery to Uzbekistan increased from US$173 to US$271 per ton (an increase of 57%).

As a result, the cost of sugar (excluding customs duties and taxes) with delivery to the border of Uzbekistan increased from US$674 at the beginning of the year to US$840. The growth is 25%.

The closure of seaports and the low capacity of alternative ports create additional costs associated with long-term storage of goods. In this regard, the region's exporting countries and India have imposed export restrictions. Russia and Kazakhstan have also imposed a ban on sugar exports.

The Ministry of Economic Development and Poverty Reduction notes that the volume of sugar on the exchange will be increased to 50% from June. The volume of sugar sold on the exchange will increase from the current 2,000 tons to 3,000 tons.

The ministry emphasized that sugar production in the country in 2022 will grow by 22% compared to 2021 and will amount to 720,000 tons. The volume of imports of sugar and raw materials for it will increase from 643 thousand tons to 900 thousand tons.