Sugar news from Russia, Armenia and Ukraine, Oct 07, 2020

Latest news are available in our daily reports.

RUSSIA

Nine RUSAGRO sugar factories plan to process about 4,690,000 tons of beets and produce 677,000 tons of beet sugar In the 2020/21 season, the regional press reports.

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The Arbitration Tribunal of Tatarstan rejected the claim of Zainskiy Sugar JSC, which tried to challenge the additional tax assessment of over 161 million rubles and a fine of about 67 million rubles.

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The RF Ministry of Agriculture estimates the situation in the Russian sugar market as stable. The ministry noted that due to a significant increase in production, the price of sugar in 2019 decreased and in 2020 it was restored, which was also facilitated by a low forecast for the sugar beet harvest due to the drought.

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On October 06, 2020, 12 sugar contracts were sold at NTB. The total volume of sales has made 460 MT at the average price of RUR 42930 / MT (US $ 549.48 / MT at the exchange rate of CBR on date indicated). Trading session closed at $ 550.37 / MT (CFO), $ 563.18 / MT (YFO), $ 550.37 / MT (PFO).

UKRAINE

By October 5, 2020 Ukrainian agricultural producers increase sugar beet harvesting activities. As of report date 822.2 thousand tons from 18.3 thousand hectares (8% of the forecast) were harvested, reports "Information and analytical portal of the Ukrainian agro-industrial complex."

ARMENIA

In September 2020, consumer prices for a group of food commodities, including sugar, have decreased by 9.6% compared to the previous month and by 6.4% compared to September 2019, Statcom RA reports.

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