Sugar market news from Russia, CIS and Customs Union, Oct 06, 2020

Latest news are available in our daily reports.


According to Soyuzrossahar figures dated October 05, 2020, 468.5 thousand hectares of crops were harvested (50.5% of the crop area); 16.8 million tons of sugar beet collected. At the same time, the average yield of sugar beets is 18.8% lower than last season and makes average 35.9 MT/ha. Sugar beet processing is performed at 67 (out of 74) sugar factories, which have produced 1.6 million tons of sugar already.


On October 05, 2020, 9 sugar contracts were sold at NTB. The total volume of sales has made 400 MT at the average price of RUR 43030/MT (US$551.02/MT at the exchange rate of CBR on date indicated). Trading session closed at $545.51/MT (CFO), $562.17/MT (YFO), $549.36/MT (PFO).


The duty on import of raw sugar to the Customs Union remains at $ 250/MT in October 2020. The average monthly price for raw sugar at the ICE stock exchange was $ 273,79/MT in September 2020, respectively, the import duty in November 2020 will remain at the level - $ 250/MT.


On October 2, 2020, the Koksu sugar plant started processing sugar beets. Two other sugar factories have started harvesting beets earlier. Sugar beet field yields are similar to those in previous season – 30.0 MT/ha.


According to the Belsakhar Association, as of October 6, 2020, 27.1 thousand hectares of sugar beet acreage (33% of total) were harvested and 1228.4 thousand tons of beets collected. The average yield is 45.25 MT/ha, sucrose content this year makes so far 15.85% average. All 4 sugar factories are operating and as of October 05, have processed 783 thousand tons of beets, and manufactured 80 thousand tons of refined sugar.


On October 2, 2020, Kaindy-Kant OJSC started processing sugar beets. Sugar beet acreage decreased by 47% in 2020 compared to 2019; beet yields are at the level of last year – 40.0 MT/ha.



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