Russian and CIS sugar news, Sept 29, 2020

Latest news are available in our daily reports.

RUSSIA

On September 28, 2020, 13 sugar contracts were sold at NTB. The total volume of sales has made 660 MT at the average price of RUR 39031/MT (US$508.09/MT at the exchange rate of CBR on date indicated). Trading session was closed at $519.4/MT (CFO), $519.43/MT (PFO).

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According to the Ministry of Agriculture of the Russian Federation, as of September 28, 2020, sugar beets were harvested from an area of 355.5 thousand hectares, or 38.3% of the area sown; 12.8 million tons collected; average yield makes 35.93 MT/ha.

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All 6 sugar factories in the Lipetsk region have started juice extracting season. As of September 28, over 645 thousand tons of sugar beet were processed, 100.5 thousand tons of sugar produced; sugar content is 20.28%; average yield – 33.24 MT/ha. 

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Since the beginning of the season, the sugar factories of Tatarstan have procured 586,174 tons of sugar beet, processed 416,612 tons and produced 61,033 tons of sugar; the sugar yield is 14.8%.

UKRAINE

As of September 28, 2020, 70.2 thousand tons of sugar have been produced and 548.9 thousand tons of sugar beets have been processed since the beginning of the season, Ukrtsukor reports.

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Representatives of sugar factories in Ukraine predict an increase in prices for sugar in wholesale at the beginning of 2021 to UAH 15,000-16,000 / ton (RUR 40775-43493/MT at the current exchange rate of the Central Bank of the Russian Federation) with VAT. Dmitry Panchuk, deputy general director for economic and general issues of A’SPIK GROUP, noted that one of the main reasons for sugar prices to grow is the lower than expected yield of sugar beet – 40 MT/ha instead of 50 MT/ha. In addition, according to Panchuk, the sugar content of beets is also lower than the predicted values.

KAZAKHSTAN

On September 25, the Koksu sugar plant (Almaty region of Kazakhstan) began accepting the first sugar beet harvested in 2020. A total of 2407 hectares of sugar beet were sown in the district. It is planned to collect 84,245 tons. The average yield is planned at the level of 35-40 MT from hectare.

Sugar.Ru

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