Sugar price monitoring data by Sugar.ru and news from Kazakhstan and Ukraine, Nov 02, 2017

Latest news are available in our daily reports.

RUSSIA

Today, about 2 thousand hectares in Krasnodar region – and it's only 1% of the total area sown with sugar beet – are grown from our domestic hybrids, Fedor Derek said, the regional Minister of Agriculture and Processing Industry.

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According to the Ministry of Agriculture, on 1 November 2017, sugar beet was harvested in Russia from an area of 1029.7 thousand hectares or 87.5% of crop acreage (in 2016 – 966.3 thousand hectares).

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Consumer prices for sugar in Russia decreased by 1.6% from October 24 to October 30, 2017; and since the beginning of the year - by 17.4%, according to Rosstat.

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According to Sugar.Ru price monitoring data for the period from 26.10.2017 to 02.11.2017 the US dollar rate increased by 1.0% (on 26.10 - RUR 57.61/$, on 02.11 - RUR 58.16/$). Ruble Moscow wholesale price for sugar dropped by 0.20 RUR/kg (-0.79%), Krasnodar wholesale price dropped by 0.50 RUR/kg (-2.17%). US dollar Moscow wholesale price for sugar dropped by $0.007 /kg (-1.60%), Krasnodar wholesale price dropped by $0.012 /kg (-3.01%).

Last week, sugar broke through the level of 23 rubles/kg, with “official” (=officially offered) prices went down to 22.50 rubles/kg basis ex works. Sugar is offered, as well, at cheaper prices (basis ex-works) including delivery. The next "psychological" level of resistance is 22 rubles/kg. There are moods in the market (some will call it magic spells), stating that at RUR 22/kg the wholesale prices will rebound.

As we expected in the previous report, the export of sugar by rail in October exceeded 25 thousand tons, amounting to total 25.3 thousand tons. The announced supplies of sugar to Uzbekistan have not yet been observed. October export is behind the most fruitful months of previous season, when Russia exported almost 50,000 tons per month, but is more than twice the level of the beginning of last season. Thus, for the three months of the previous marketing year railway export made 27.9 thousand tons, and for August-October of current MY - 60.5 thousand tons.

According to official data of the FCS of Belarus, in the previous marketing year of 2016/17, import of raw sugar (HS code 170112-170114) amounted to 146.2 thousand tons, exports of white sugar outside the EAEC - 95.8 thousand tons, which speaks in favour of Russian assumptions, stating that a portion of sugar made from imported raws stays within the EAEC.

UKRAINE

According to Ukrstat, as of October 30, 2017, the average consumer price of sugar in Ukraine was 13.88 UAH/kg (30.00 rubles/kg at the Central Bank exchange rate for the reporting day), which is 2.23% less than the price on previous observation date 10 days ago. Over the year (since October 30, 2016) sugar has grown in price by 0.22%, in two years (since October 30, 2015) the price of sugar has decreased by 8.14%. The highest prices are observed in the Transcarpathian region - 14.86 UAH/kg, the lowest - in the Khmelnitsky region, 12.93 UAH/kg.

KAZAKHSTAN

According to the Agency for Statistics, sugar prices from producers decreased by 7.2% in Kazakhstan in October 2017 as compared to the previous month; from the beginning of the year (by December 2016) - by 20.6%. Consumer prices for sugar decreased by 4% in October 2017, whereas in annual terms (vs. October 2016) - by 14.7%.

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