Russian and CIS sugar news, Apr 04, 2019

Latest news are available in our daily reports.

RUSSIA

According to the operational data by the Federal Customs Service, sugar imports from foreign countries amounted to 21.2 million US dollars in March 2019. At the same time, the value of sugar imports in January in annual terms (by March 2018) decreased by 1.8%.

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According to the Ministry of Agriculture, as of April 3, 2019, Russia has sown sugar beet out on an area of 65.2 thousand hectares or 5.7% of the forecast area (in 2018 - 10.9 thousand hectares).

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According to Sugar.ru price monitoring data for the period from 28.03.2019 to 04.04.2019 the US dollar rate increased by 0,9% (on 28.03 - RUR 64,59/$, on 04.04 - RUR 65,16/$). Ruble Moscow wholesale price for sugar dropped by 0,20 RUR/kg (-0,57%), Krasnodar wholesale price has not changed from previous 32,90 RUR/kg. US dollar Moscow wholesale price for sugar dropped by $0,008 /kg (-1,47%), Krasnodar wholesale price dropped by $0,004 /kg (-0,79%).

At the beginning of last week a humble attempt to raise wholesale prices for sugar was a failure, prices increased slightly and began to decline again. At the moment, the bottom level of sales is 500 tons sold by Dominant at the Exchange at 32.50 rubles / kg. However, this attempt was single and the rest of the deals are at the levels of 33.00-33.10 rubles / kg (exw Krasnodar). A number of companies intend to suspend sales, but so far there is a whole bunch of offers on the market, and this bunch puts high pressure on prices. A strategy to hold stocks for better times, in case if it turns out to be correct, is most likely for the short term perspective. With current reserves and the expected sugar beet acreage in the new season, we will face “seven ears fat and good”, which means the price of sugar will drop significantly, if Mother Nature does not interfere.

Rumor has it that Kazakhstan has paid for part of the raw sugar on the steamer, which hangs around in the port of Novorossiysk for a month, but at the moment the vessel is still not being unloaded.

According to Sugar.ru railway monitoring data, in January-November 2018 Russia imported 239634 MT of sugar. The largest exporting countries to Russia were Belarus (96.61%) and Lithuania (3.07%). Russian exports amounted to 294 267 MT, the main countries receiving sugar were Kazakhstan (50.99%) and Uzbekistan (37.86%). Domestic shipments amounted to 1,420,891 MT, the largest volume of shipments was made by Cheremnovsky (5.36%) and Leningradsky (4.57%) sugar plants. The total transit by rail through Russia was 490282 MT.

ARMENIA

The average consumer price for sugar decreased by 0.9% in March 2019 compared to the previous month, according to the National Statistics Committee. In annual terms - March 2019 vs. March 2018 - consumer prices for sugar decreased by 11.8%.

BELARUS

Grodno region plans to launch sugar beet sowing campaign from tomorrow.

KAZAKHSTAN

According to Statkom of Kazakhstan, the producer price of white sugar in March 2019 (excluding excises and VAT) decreased by 0.66 % and amounted to 176706 Tenge/MT (in 2018 - 153622 Tenge/MT, in 2017 - 0 Tenge/MT), or RUR 30628.27/MT (at the rate of the Central Bank of the Russian Federation by the middle of the reporting month).

Sugar.Ru

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