Sugar price monitoring for the period from 28.02.2019 to 06.03.2019 from Russia and news from Armenia and Belarus, Mar 07, 2019

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RUSSIA

In Belgorod region, more than 60 thousand hectares of sugar beet will be planted in 2019 - 3 thousand more than last year, a representative of the regional administration said

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Russia is asking for a quota for the supply of 200 thousand tons of sugar to Uzbekistan annually, said the Minister of Agriculture of Uzbekistan Zhamshid Khodzhayev.

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According to Sugar.ru price monitoring data for the period from 28.02.2019 to 06.03.2019 the US dollar rate increased by 0,1% (on 28.02 - RUR 65,76/$, on 06.03 - RUR 65,80/$). Ruble Moscow wholesale price for sugar has not changed from 36,50 RUR/kg, Krasnodar wholesale price dropped by 0,50 RUR/kg (-1,45%). US dollar Moscow wholesale price for sugar has not changed from $0,555 /kg, Krasnodar wholesale price dropped by $0,008 /kg (-1,52%).

Last week, the "price swing" of wholesale sugar prices continued. For the second month running it is possible to observe declining fluctuations, where the price (exw Krasnodar) asymptotically goes to the level of 34 rubles/kg. There is no pre-holiday demand, market participants are preparing to celebrate March 8 – International Women’s Day. After the statement by the President of Russia to increase exports by 2025, the regions compete in drafting plans and commitments to implement the statement, although the volumes and deadlines for implementation of commitments rather bring to mind the parable of Nasreddin, donkey and padishakh.

According to Sugar.ru railway monitoring data, in the first week of March 2019, Russia imported 4.4 thousand tons of sugar, which is slightly lower than the pace of February (22 thousand tons of white sugar total were imported in February). Exports remain low, for the week 2.1 thousand tons of white sugar were exported by rail. From the beginning of March, 3.5 thousand tons of sugar passed through the territory of Russia transit: Ukrainian – 2.7 thousand tons and Belarusian — 0.8 thousand tons.

ARMENIA

According to the draft law “On Amendments and Additions to the Tax Code” introduced into circulation, it is planned that from July 1, 2019, beverages containing five and more grams of sugar in 100 grams will be subject to excise tax.

BELARUS

According to Sugar.ru railway monitoring data, in February Belarus exported 2.4 thousand tons of white sugar transit Russia by rail. The recipients were Kazakhstan (1.7 thousand tons) and Tajikistan (408 tons).

Sugar.Ru

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