Russian sugar market news, Jan 21, 2020

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RUSSIA

ahar, a total; volume of 7.3 million tons of sugar from beet harvested in 2019 were produced as of January 20, 2020. Today 26 sugar factories continue to process sugar beets. According to the results of the harvesting company in 2019, the gross yield of sugar beets amounted to 53.2 million tons. To date, over 50 million tons of sugar beets have been collected.

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As of January 21, 2020, the Cheremnovsky sugar factory processed more than 917 thousand tons of sugar beets and produced 148 thousand tons of granulated sugar, the Altai Territory administration reports.

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The prices of refined beet sugar from industrial producers amounted to 20.46 rubles/kg on January 16, 2020 (+2.3% per week) according to the Monitoring and Forecasting System for Food Safety of the Ministry of Agriculture of Russia. As of January 15, 2020, the wholesale price (including VAT) for sugar in the Southern Federal District for the week did not change from 20.74 rubles/kg.

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According to the latest Soyuzrossahar data, since the beginning of the 2019/20 season and as of January 20, 2020, 7.3 million tons of sugar from beets were produced. Given the ongoing operation of the factories, we should expect a total production of sugar from beets of more than 7.4 million tons (our estimate is 7.43 million tons). To this we must add the expected 130 thousand tons of sugar from molasses at the desugarization stations of Rusagro and Prodimex, and about 50 thousand tons to be produced from syrup sugar at the Sucden factories. Thus, the total sugar production in the current season is likely to exceed 7.6 million tons, which is a record figure for the entire history of sugar production in the Russian Federation, and it will exceed by 1 million tons the production volume in the record season of 2017/18.

Sugar.Ru

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