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RUSSIA
The Moscow Arbitration Court has accepted a statement from LLC "Group of Companies "Rusagro" claiming bankruptcy of PJSC "Razgulyay" group.
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According to the Ministry of Agriculture update as of September 7, 2016, the country has harvested sugar beets from the area of 144,500 ha (13%) and has collected 6.4 million MT with the average yield 44.26 MT/ha.
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According to the data of price monitoring by Sugar.ru for the period September 1-8, 2016, the US dollar exchange value has dropped by 1.3% (on September 1 – RUR 65.25/$; on September 8 – RUR 64.38/$). Moscow ruble price of sugar fell by RUR 1.40/kg (-3.40%), Krasnodar price decreased by RUR 0.70/kg (- 1.86%). US dollar equivalent sugar price decreased by $0.013/kg (-2.06%) in Moscow and by $0.003/kg (-0.52%) in Krasnodar.
After a short-term rally, prices started to decrease pressed by high yields. According to recent reports the average filed yield of sugar beet is 14% higher compared to previous season (44.3 MT/ha in 2016 against 38.9 MT/ha in 2015), besides, the acreage in 2016 increased by 8.5% from previous year. Even though the sucrose content is lower (15.37% in 2016, 17.07% in 2015) and sugar beet is affected by diseases, it is projected to produce 5.60 (and up to 5.63) million tons of sugar, which exceeds the volume of domestic consumption. The situation may be a bit rectified by exports to CIS countries, currently at the price of RUR 36-37/ton with export rate around 2-3 thousand tons per month, according to the rail cargo monitoring data by Sugar.Ru. So far the international market competition seems senseless for Russia, while Ukrainian sugar is less than US$ 500 per ton.
UKRAINE
The wholesale price of sugar has established at the level of UAH 12.70-13.50/kg on September 6 (RUR 30.57-32.49/kg), according to Ukrtsukor. Compared to last Tuesday (August 30) the minimum price of sugar increased by 1.6%, while the maximum – by 3.8%. The export price in a view of weakening of the national currency has dropped to US$ 474-504/MT (RUR 30 516-32 447/MT) as of September 06, 2016.
KAZAKHSTAN
According to the monitoring of railway shipments by Sugar.Ru, Kazakhstan has received 50 000 tons of white sugar by rail transit Russia in 8 months of 2016 (in 2015 – 158 500 tons). The main suppliers of sugar are Ukraine (42%) and Poland (28%). Almost a third of Ukrainian sugar exports was supplied to Kazakhstan by Zaselsky sugar factory (Ukraine).
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КОММЕНТАРИИ