In the first half of 2024, significant changes occurred in Armenia's sugar market: import volumes dropped by more than half, and the supply structure shifted dramatically in favor of Russian products.
According to the Russian Trade Representation in Armenia, 15,200 tons of sugar were imported into the country over six months, a 56.6% decrease compared to the same period last year. In monetary terms, imports amounted to $10.3 million, down 47.2%.
The most notable change was the shift in the main supplier. While Armenia previously sourced most of its sugar from Brazil, Russia now accounts for 94.1% of imports, up from just 7.9% a year earlier. Belarus ranks second, with a 5.4% share of total imports.
The remaining supplies were distributed among various countries, including Italy, Mauritius, the Czech Republic, and China. Smaller batches of sugar also came from India, Colombia, Germany, the UK, Guatemala, Turkey, Switzerland, France, and Madagascar.
Sugar exports from Armenia also showed a decline. Physical volumes decreased by 30.2%, amounting to 330.7 tons, while customs value dropped by 31.4%, totaling $368,800.
