Russian and CIS sugar news, Nov 22, 2018

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RUSSIA

According to Sugar.Ru price monitoring data for the period from 15.11.2018 to 22.11.2018 the US dollar rate dropped by -3.0% (on 15.11 - RUR 68.00/$, on 22.11 - RUR 65.95/$). Ruble Moscow wholesale price for sugar has not changed from the level of RUR 39.00 /kg, Krasnodar wholesale price dropped by RUR 0.20 /kg (-0,54%). US dollar Moscow wholesale price for sugar increased by $0.017 /kg (+2.96%), Krasnodar wholesale price increased by $0.014 /kg (+2.56%).

Last week, the growth of prices has stopped and since Monday, November 19, prices began to decrease. For now companies keep prices at the level of 37 rubles/kg but, apparently, they will be ready to give it at lower values (so-called “kolkhoz” sugar is offered somewhat cheaper). GG "Rusagro" began to offer sugar not only through the stock exchange but under the condition of fast pick-up, probably due to the overstocking of warehouses with the commodity.

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The harvesting of sugar beet in Russia and Belarus is almost complete, however, not all beets have been transported from field piles.

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According to Sugar.Ru railway monitoring data, in 22 days of November 2018 Russia imported 25.4.4 thousand tons of white sugar, the rate of imports is higher than in any other month in the last 4 years. Almost all sugar imported was from Belarus. Export of white sugar by rail continues to remain low in November, only 8.2 thousand tons, which is caused by high domestic prices for sugar. Transit rates of white sugar by the Russian railway continue to grow and amounted to 52.0 thousand tons in22 days of November, so we can expect about 70 thousand tons of transit for the month, which is much more than for any month in the past four years. Most of the transit volumes is provided by Ukraine - 41.5 thousand tons, of which 31.3 thousand tons to Uzbekistan.

GEORGIA

According to the analysis of data by the National Statistics Office of Georgia, conducted by Sugar.Ru, the import of white and raw sugar (HS code 1701) has made $8.4 million in October 2018 ($6.4 million in October 2017). Total import of sugar (white and raw) to Georgia has made $54.8 million in January - October 2018 ($59.9 million in 2017). Export of sugar (white and raw) has made $0.0 in January - October 2018, total for 10 months 2018 - $214.2 thousand (in 2017 - $3.9 million).

Sugar.Ru

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