Sugar price monitoring data by and news from Kazakhstan, Aug 09, 2018

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LabDepo LLC (St. Petersburg) has applied to the Arbitration Court of the Karachaevo-Cherkessia Republic with a claim for bankruptcy of Karachaevo-Cherkessia Sugar Plant OJSC. The reason for appealing to the court was the overdue debt of the sugar refinery to LabDepo for the total amount of RUR 345 185.

According to price monitoring data for the period from 02.08.2018 to 08.08.2018 the US dollar rate increased by 1,6% (on 02.08 - RUR 62,56/$, on 08.08 - RUR 63,54/$). Ruble Moscow wholesale price for sugar dropped by 0,30 RUR/kg (-0,94%), Krasnodar wholesale price dropped by 1,70 RUR/kg (-5,36%). US dollar Moscow wholesale price for sugar dropped by $0,013 /kg (-2,55%), Krasnodar wholesale price dropped by $0,035 /kg (-6,90%).

The launch of the first plants in the Krasnodar region to operate on beet of a new crop has provoked a drop in wholesale prices for sugar. The offers reached 29.5 rubles per kilo for a lot of 200-300 tons. On Thursday, August 9, a number of companies made an attempt to raise prices: "Prodimex" officially raised them by 0.20 rubles per kilogram (up to 32.20 rubles per kilogram), "Dominant" reports that it does not give any more offsets from the price of 32 rubles/kg, however, the real sales prices for August 09 are about 28 rubles per kilo without VAT and 29.70-30.50 rubles per kilogram incl VAT. With the launch of all new plants, and if weather does not interfere, the price of sugar in the coming days is likely to fall or remain at current levels. A number of companies offer forward sugar for September at 29 rubles per kilo, however, mindful of last year, buyers do not yet venture to get involved in such an adventure.

According to the railway monitoring data for August 2018, the export of sugar is at the level of July, 20 thousand tons per month, however, the import has significantly decreased. So, in 9 days of August Belarus shipped only 2.6 thousand tons of white sugar to Russia (in June for a month - 28.5 thousand tons, in July - 15.8 thousand tons). Transit of white sugar since the beginning of August amounted to 13.6 thousand tons, of which 10 thousand tons went to Uzbekistan. Two steamships with sugar raw, destined for Kazakhstan, continue to stay in the port of Novorossiysk, one from March 29, the second from April 24, 2018.


According to Statkom of Kazakhstan, the wholesale price of white sugar in July 2018 increased by 0.52% and amounted to 194 Tenge/kg (in 2017 - 244 Tenge/kg, in 2016 - 223 Tenge/kg), or RUR 35.14/kg (at the rate of the Central Bank of the Russian Federation by the middle of the reporting month).



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