Sugar price monitoring for the period from 31.01.2019 to 07.02.2019 from Russia and news from Ukraine, Feb 07, 2019

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Consumer prices for refined sugar in Russia increased by 1.0% in January 2019 (by December 2018), and in annual terms (vs. January 2018) - by 30.9%, according to the Rosstat.

According to price monitoring data for the period from 31.01.2019 to 07.02.2019 the US dollar rate dropped by -0.7% (on 31.01 - RUR 66.10/$, on 07.02 - RUR 65.67/$). Ruble Moscow wholesale price for sugar dropped by RUR 1.00/kg (-2.67%), Krasnodar wholesale price dropped by same RUR 1.00 /kg (-2.86%). US dollar Moscow wholesale price for sugar dropped by $0.012 /kg (-2.12%), Krasnodar wholesale price dropped by $0.012 /kg (-2.26%).

The decline of wholesale sugar prices continues in the Russian market. Exchange prices (NTV) for sugar decreased to RUR 33.80-34.00 per kg with delivery from the Central Federal District, the same price level for sugar offered from the sugar plant. Several factors influenced the fall: figures on sugar production in the 2018/19 season (about 5.95 million tons), large carry-over stocks from previous surplus season (an estimated +200 thousand tons to the balances at the beginning of last season), and expectations of a new crop (crop acreage is expected to be no less than what was planted last season). If the fall continues, the first level of support will be the cost of sugar produced from raw sugar, without import duties. At the current world exchange price of 12.9 ct/lb, this level will be about RUR 32/kg, this price will make Russian sugar competitive with sugar produced in Kazakhstan from raw sugar.

According to Sugar.Ru railway monitoring data, in the first week of February 2019 Russia imported 7.0 thousand MT of sugar from Belarus and Ukraine (544 tons from Radekhovsky sugar factory was shipped to Kaliningrad). Exports remain extremely low; in just a week, 1.3 thousand tons of white sugar was exported by rail: 1.1 thousand tons to Kazakhstan, the rest to Kyrgyzstan. From the beginning of February, 2.9 thousand tons of Ukrainian - 2.6 thousand tons (2.1 thousand tons to Azerbaijan) and Belarus (336 tons to Tajikistan and Turkmenistan) passed through the territory of Russia from the beginning of February.


According to Ukrtsukor, the quota for duty-free sugar supplies to the EU for 2019 in the amount of 20 thousand tons has exhausted on January 30. During September-January 2018/2019 MY, 240 thousand tons of sugar were exported, which is 4% less than the same the period of the previous marketing year.



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