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RUSSIA
Consumer prices for sugar have increased by 1.2% in Russia in the period August 11–17, 2015, the Federal State Statistics Service informs. From the beginning of August 2015 the consumer prices for sugar have increased by 4.1%; from the beginning of the year – by 15.5%.
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According to national price monitoring data by sugar.ru in the period from Aug 13 to Aug 20, 2015 the dollar exchange rate continued to grow against Russian rouble and has increased by 1.1% (on Aug 13 the rate was US$ 1=RUR 65.02; on Aug 20 – US$ 1=RUR 65.72). Sugar prices, being under pressure of emerging beet sugar, continue to fall. Moscow ruble price of sugar fell by RUR 1.00/kg (-2.27%), Krasnodar price fell by RUR 0.70/kg (-1.71%). Moscow US dollar equivalent price of sugar fell by US$ 0.023/kg (-3.40%), Krasnodar price dropped by US$ 0.018/kg (-2.85%).
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According to figures by the Ministry of Agriculture dated 18 August 2015, sugar beet was harvested from an area of 6400 hectares, or 0.6% of the area due (in 2014 - 23 200 ha on same day). Collected total 232,800 tons (in 2014 - 930.2 thousand tons), with yields of 36.11 MT/ha (in 2014 – 40.19 MT/ha). According Soyuzrossakhar data, the area harvested makes 29,100 hectares (2.8% of the crop) by August 18, 2015. Total sugar beet acreage makes 1,021,500 hectares.
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On August 18 the farms in Belgorod region have started harvesting sugar beets. Acreage of the crop makes 66,600 hectares this season, according to the regional Department of Agribusiness. Six local sugar factories are ready for receiving and processing the new crop of beet, all of them will reach the full capacity until September 3, 2015.
UKRAINE
Sugar production in Ukraine in 2015/2016 Marketing Year (Marketing Year lasts September to August) can reduce by 1 million tons to 1.1-1.2 million tons, considers Victor Ivanchyk, the majority shareholder of "Astarta". According to him, one should expect the increase of sugar prices, as stocks are depleted, and the volume of sugar production this year will be significantly lower than last year.
KAZAKHSTAN
The National Bank of Kazakhstan and the government have decided to cancel the trading band and embark to a free floating currency exchange rate starting from August 20. The market has immediately reacted to the news, and the result is the average weighed rate of exchange of Kazakh Tenge, traded during the main morning session at the Kazakhstan stock exchange, fell by 35.5% to 255.26 Tenge for one US dollar against 188.38 Tenge / 1 US$ fixed on Wednesday.
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