Sugar market news from Russia, Belarus and Ukraine, Apr 27, 2020

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According to the operational results of Rusagro for the 1st quarter of 2020, revenue from the sugar segment grew to 5.2 billion rubles or by 16% compared to the same period in 2019. The reason for the increase was growing sugar sales, which was partially offset by a fall in prices. Sugar sales increased by 62% to 169 thousand tons due to the higher sugar production volumes. At the same time, overproduction of sugar in Russia in the 2019/2020 season led to a significant drop of market prices. As a result, the selling price of sugar fell by 32% year-on-year - to 24.9 rubles / kg (without VAT) and has substantially limited the growth of revenue in sugar segment. However, sugar prices showed an increase of 14% compared to the Q4 2019.


According to the Ministry of Agriculture of the Russian Federation, as of April 24, 2020, sugar beet was sown on an area of 611.6 thousand ha, or 64.7% of the projected crop acreage in Russia (in 2019 - 748.2 thousand ha).


According to the figures received by Sugar.Ru from the Ministry of Agriculture and Food of the Republic of Belarus, by April 27, 2020 Belarusian farmers have sown 83.3 thousand ha with sugar beet, which makes 91.0% of the plan (last year - 92.3 thousand ha, 97.1%). This season Belarussian agrarians plan to grow sugar beet on 91.5 thousand ha.


The Council of Ministers has increased the limits for direct loans under state programs by 120 million Bel rubles (RUR 3.57 billion) in 2020. Their receivers will be the three sugar factories: Gorodeisk Sugar Refinery, Zhabinka Sugar Refinery and Skidel Sugar Refinery.


As of April 24, 2020, sowing of sugar beets in Ukraine was carried out on an area of 199.8 thousand ha out of 209 thousand ha planned, the press service of the Ministry of Economic Development, Trade and Agriculture of Ukraine reports.



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