Sugar price monitoring data by and news from Kazakhstan and Ukraine, Nov 09, 2017

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According to the Ministry of Agriculture, on 8 November 2017, sugar beet was harvested in Russia from an area of 1069.0 thousand hectares or 90.9% of total crop acreage (in2016 – 1.0 mln ha).

According to Sugar.Ru price monitoring data for the period from 02.11.2017 to 09.11.2017 the US dollar rate increased by 1.9% (on 02.11 - RUR 58.16/$, on 09.11 - RUR 59.25/$). Ruble Moscow wholesale price for sugar has not changed staying at 25.00 RUR/kg, Krasnodar wholesale price increased by 0.40 RUR/kg (+1.78%). US dollar Moscow wholesale price for sugar dropped by $0.008 /kg (-1.86%), Krasnodar wholesale price has not changed staying at $0.387 /kg.

Last week, the wholesale price of sugar, rebounding from the support level of 22 rubles/kg, has indicated to a slight increase. "Rusagro" was the first to raise the price followed by other market participants. "Prodimex" reduced limit of the sale volume of cheap sugar, leaving it at only three sugar plants. To date, the minimum wholesale prices in Krasnodar are about 23 rubles/kg, at the factories in the Central Russia - 22.5 rubles/kg.

Sugar beet harvesting campaign is closing to an end, the gross harvest has reached 45.7 million tons, slightly lower than last year at the same date - 46.7 million tons. Against the backdrop of extremely low prices, sugar exports from Russia by rail are growing. During the first 10 days of November 9.3 thousand MT of white sugar were exported, the main recipients, as before, are Kazakhstan and Azerbaijan. For the first time sugar was delivered to Uzbekistan by Russian rail, during the first ten days of November Chishminsky sugar factory has discharged 1000 tons, Otradinsky (RusAgro) - 860 tons.

Probably, the rise in prices is caused by these upbeat news, as well as the reluctance of some companies to sell sugar at low prices, and as the result, they voluntarily left the market. There are no fundamental reasons for the growth, except that in the near future surprises will be presented by weather and exports to Uzbekistan.


According to Statkom of Kazakhstan, the wholesale price of white sugar decreased by  1.44% and amounted to 206 Tenge/kg in October 2017 (in 2016 - 216 Tenge/kg, in 2015 - 189 Tenge/kg), or RUR 35.51/kg (at the rate of the Central Bank of the Russian Federation by the middle of the reporting month).


According to the State Statistics Service, in October 2017 the price of sugar from the producer fell by 10.8%, while year-on-year (October 2017 to October 2016) – by 3.0%. In October 2017 the consumer prices for sugar fell by 5.5%, while year-on-year (October 2017 to October 2016..) - increased by 6.6%.



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