Rusagro's sugar division revenue in 2019 and sugar news from Customs Union and Armenia, Feb 03, 2020

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RUSSIA

The revenue of the sugar division of Rusagro Group of Companies increased to 7.8 billion rubles for the 4th quarter of 2019 (+ 23% compared to the 4th quarter of 2018) due to growth of sugar sales volume by 110% to 295 thousand tons.

2019
total

2018
total

Change,

Q4
2019

Q4
2018

Change,

Sugar business

Revenue, million rubles

31 059

24 083

29%

817

6 348

23%

Volume of sugar production, thousand tons

875

773

13%

643

535

20%

Sugar sales volume, thousand tons

1 022

702

46%

295

140

110%

Average sugar price, RUR/kg w/o VAT

27,5

30,1

-9%

21,9

35,0

-37%

Agricultural business

Sugar beet sales, thousand tons

3 875

3 489

11%

2 931

2 509

17%

Average price of sugar beets, RUR/kg w/o VAT

1,6

2,5

-37%

1,5

2.6

-42%

ARMENIA

According to the RA State Revenue Committee, 47 business entities imported 8,000 tons of granulated sugar into the territory of Armenia from January to October 2019. The imported sugar was mainly of Ukrainian origin. Over the same period, production of granulated sugar in Armenia amounted to 59 800 tons. In 2017 - 2019, wholesale prices for granulated sugar decreased, from an average 387 to 292 drams (51.07-38.52 rubles at the current rate of the Central Bank of the Russian Federation).

CUSTOMS UNION

The duty on import of raw sugar to the Customs Union dropped to $ 240/MT in February 2020. The average monthly price for raw sugar at the ICE stock exchange was $ 312,58/MT in January 2020, respectively, the import duty in March 2020 will remain at the level - $ 240/MT.

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