Sugar price monitoring data by Sugar.ru and news from CIS, Oct 12, 2017

Latest news are available in our daily reports.

RUSSIA

According to the Ministry of Agriculture, as of October 11, 2017, sugar beet was harvested in the country from the area of 725.2 thousand hectares or 61.6% of crop acreage (in 2016 - 593.7 thousand hectares).

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GC "Rusagro" and JSC "Shchelkovo Agrokhim" have invested 30 million rubles in the implementation of the project of the sugar beet breeding center in the Ramon district of Voronezh region.

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The consumer prices for sugar fell by 1.8% in Russia from October 3 to October 9, 2017, and from the beginning of the year (by the end of December 2016) - by 13.6%, according to Rosstat.

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They say that dolphins are pushing sinking people to the shore. In fact, there are two types of dolphins: they push people to as well as from the shore. There is simply no one to tell about the second ones. (Anthropic principle)

According to Sugar.ru price monitoring data for the period from 05.10.2017 to 12.10.2017 the US dollar rate increased by 0,2% (on 05.10 - RUR 57,78/$, on 12.10 - RUR 57,92/$). Ruble Moscow wholesale price for sugar dropped by 1,00 RUR/kg (-3,57%), Krasnodar wholesale price dropped by 1,00 RUR/kg (-3,92%). US dollar Moscow wholesale price for sugar dropped by $0,019 /kg (-3,92%), Krasnodar wholesale price dropped by $0,018 /kg (-4,08%).

Over the past week the wholesale prices for limited batches have dropped below the psychological level of 25 rubles per kilo. On October 12, "Prodimex", having seized leadership from Rusagro, had already announced prices of 23.5 rubles per kilo, but this offer was limited, and those who were not in the right time, they were too late. More actual prices range 24-25 rubles per kilogram, compared to previous season when in 2016 on same day the minimum prices were in the range of 35.0-36 rubles per kilogram. "Rusagro", in addition to discounted price, has significantly reduced the time of shipments of railcars from 30+ to 5 days, leaving yesterday's buyers of expensive sugar to wait until today's cheap is shipped. A number of companies that are not ready to sell at such low prices (Pokrovsky, Delos, etc.), have suspended sales in the open market, but this had not affected the price decline. Expectations of market participants are rather pessimistic.

Beet harvest estimates amounting to 6.5 million tons in sugar equivalent continue to please the Ministry of Agriculture and the Government of the Russian Federation, which advertise* Russia as a new sugar beet superpower (*advertising is paid for by beet and sugar producers).

Export of sugar continues to grow, 11.2 thousand tons of white sugar, with more than half heading for Azerbaijan, were shipped for export in 11 days of October. Exports by rail are accompanied by automobile shipments to Azerbaijan, Kazakhstan and Armenia, the latter, not receiving raw sugar since April 2017, meets almost all of its sugar demand (about 5,300 tons/month) with Russian supplies. Sugar exports to Uzbekistan, as announced by the Ministry of Agriculture of the Russian Federation, have not yet been fixed.

UKRAINE

As of October 11, 2017, total 502.1 thousand tons of sugar was produced out of 3.72 million tons of sugar beet processed at 39 sugar refineries operating, reports Ukrtsukor.

KYRGYZSTAN

According to the National Statistical Committee, the production of sugar in the country amounted to 5,053.2 tons in September 2017 (in September 2016 - 5,403.4 tons).

KAZAKHSTAN

According to the National Statistical Committee of Kazakhstan, the wholesale price of white sugar in September 2017 decreased by 9.91% and amounted to 209 Tenge/kg (in 2016 - 219 Tenge/kg, in 2015 - 167 Tenge/kg), or RUR 35.68/kg (at the rate of the Central Bank of the Russian Federation by the middle of the reporting month).

Sugar.Ru

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