Russian and Ukrainian sugar news, Dec 18, 2017

Latest news are available in our daily reports.

RUSSIA

According to the Ministry of Agriculture, by December 15, 2017, sugar beet was harvested from the area of 1173.7 thousand hectares or 100% of the harvesting area in the country (in 2016 - 1.1 million hectares).

Lipetsk arbitration court has recognized company Terbunsky Sugar Factory to be the bankrupt. The company owed the Moscow bank Avangard more than 270 million rubles. The project for the construction of the sugar plant "Korni" in the Terbunsky district of the Lipetsk region was announced in 2006, but at the beginning of 2015 the sugar factory project was excluded from the residents of the regional economy zone "Terbuny".

The sugar factory, located in the city of Sergach, Nizhny Novgorod region, will be able to increase sugar production from current 45,000 to annual 100,000 tons by 2020 due to modernization, the regional administration reports.

UKRAINE

According to Statkom of Ukraine, wholesale price of sugar from producers decreased over the month by 4.36% in November 2017 and has made 10737.7 UAH/MT (in November 2016 - 11808.6 UAH/MT). Russian rouble equivalent price (at the exchange rate of the Russian Central Bank for the middle of the reporting month) has decreased over the month by 1.00% in November 2017 and has made 24144.3 RUB/MT (in November 2016 - 30355.4 RUB/MT). USD equivalent price (at the exchange rate of the Russian Central Bank for the middle of the reporting month) has decreased over the month by 4.32% in November 2017 and has made 405.0 USD/MT (in November 2016 - 460.9 USD/MT)

In January-November 2017, the average selling price of sugar beet was UAH 847.8/MT (1,808.56 rubles/ton - at the current rate of the Central Bank of the Russian Federation) excluding VAT, subsidies, transportation, forwarding and overhead costs, according to Gosstat.

According to the Ministry of Agriculture, Ukraine has produced 1.9 million tons of sugar by December 15, 2017. The expected volume of production will be at the level of previous year – within 2 million tons – while the domestic market needs about 1.5 million tons. In September-November 2017/2018 MY total 127 thousand tons of sugar  were exported (in September-November 2016/2017 MY exports amounted to 213 thousand tons). In January-November 2017, total volume of 551,000 tons of sugar was exported, which is 1.6 times more than in January-November 2016 (335,000 tons were exported).

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