Sugar price monitoring from Russia and other sugar news, Apr 19, 2018

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RUSSIA

According to the Ministry of Agriculture, in Russia sugar beet was sown on an area of 265.0 thousand hectares by April 18, 2018 or 24.2% to the forecast (in 2017 - 540.5 thousand hectares).

Since early April 2018, consumer sugar prices have increased by 1.7%, and since the beginning of the year - by 1.5%, according to Rosstat.

According to Sugar.ru price monitoring data for the period from 12.04.2018 to 19.04.2018 the US dollar rate dropped by -3,9% (on 12.04 - RUR 64,06/$, on 19.04 - RUR 61,55/$). Ruble Moscow wholesale price for sugar increased by 0,30 RUR/kg (+0,92%), Krasnodar wholesale price increased by 0,40 RUR/kg (+1,30%). US dollar Moscow wholesale price for sugar increased by $0,026 /kg (+5,13%), Krasnodar wholesale price increased by $0,026 /kg (+5,41%).

As we expected in the previous review (the forecasts coming true should be advertised!), the growth of wholesale sugar prices has stopped. Purchasing earlier at the level of 30-31 rubles per kilogram, the secondary market is not ready to buy more. Producers understand this, therefore, officially announcing prices around 32 rubles per kilogram and above are ready to give sugar without any publicity at 31 rubles per kilo, the whole week the price "hangs" in this range: 31-32 rubles / kg, closer to the lower boundary.

Although the overall rates of sugar beet sowing are lagging behind last year's, Krasnodar Region has almost finished the campaign with 200.9 thousand hectares sown as of today, which is 11.6% more than the forecast of the Ministry of Agriculture (which promised 24% decrease in the Russian beet crop in the Krasnodar Territory and by 0.6% - drop of acreage compared to 2017).

According to railway monitoring by Sugar.Ru, exports continue to fall, in twenty days of April, only 11.8 thousand tons were exported by rail (0 tons to Uzbekistan and Azerbaijan, by the way). At the same time, Ukrainian exports to Uzbekistan are growing – 17.6 thousand tons since the beginning of the month (an average of 16.8 thousand tons over the previous three months). Strengthening of the ruble, which fell after the American sanctions, does not contribute to the export of Russian sugar.

UKRAINE

The Verkhovna Rada plans to discuss in the first reading to be held on April 19, 2018 the bill No. 4532 "On the Recognition of Certain Laws of Ukraine on the State Regulation of the Production and Sale of Sugar" initiated by "Ukrtsukor" jointly with the All-Ukrainian Agrarian Council.

On April 18, the sowing of sugar beet was carried out on an area of 150 thousand hectares, which is 50% to the forecast, the Ministry of Agrarian Policy said.

KAZAKHSTAN

According to the analysis of the EAC import volumes for Kazakhstan, conducted by Sugar.Ru, in February 2018, sugar imports (HS 1701) amounted to 53.60 thousand tons, in January-February 2018 - 90.90 thousand tons, which in 2.1 times more than the same period in 2017. White sugar was exported to Kazakhstan by Russia and Belarus, raw sugar - mainly Brazil and Cuba.

Sugar.Ru

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