Sugar market news from Russia, Georgia and Customs Union, Feb 04, 2019

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According to the Ministry of Agriculture, following the results of last year, the export of confectionery products in value terms exceeded $ 1.1 billion compared to $ 1 billion in 2017. At the same time, deliveries are planned to reach $ 2.4 billion per year by 2024.

Following the season-2018/19, Sucden plans to produce 400 thousand tons of sugar (including production from syrup), Gleb Tikhomirov, the financial director of the holding, said. In the past marketing year, the company produced over 440 thousand tons of sugar from sugar beet and about 25-30 thousand tons – from syrup.


The duty on import of raw sugar to the Customs Union remains at $ 250/MT in February 2019. The average monthly price for raw sugar at the ICE stock exchange was $ 279,96/MT in January 2019, respectively, the import duty in March 2019 will remain at the level - $ 250/MT.


According to the Statcom, consumer prices for sugar decreased by 1.3% in January 2019, and on an annualized basis (by January 2018) - increased by 23.1%.


According to the National Statistics Committee, consumer prices for sugar decreased by 0.13% in January 2019 compared to the previous month, and on an annualized basis (January 2019 by January 2018) - by 15.60%.



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