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RUSSIA
According to the report by the Ministry of Agriculture dated March 23, 2016 the sugar beet is seeded in Russia in Krasnodar region and the Republic of Chechnya. Total acreage sow makes 5 800 hectares and 0.6 hectares respectively.
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Svetlana Barsukova, General Director of JSC "Agrosila", has announced plans of the holding to invest about RUR 10 billion in the setting up a food cluster in 2016; the cluster will include "Zainsky sugar" enterprise.
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According to Rosstat, Russian consumer prices for sugar have decreased by 0.4% in the period March 15 to 21, 2016; from the beginning of the year the prices have increased by 4.4%.
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According to the data of price monitoring by Sugar.ru for the period March 17 – 24, 2016, the US dollar exchange rate has dropped by another 4.8% (on March 17 the rate was US$ 1=RUR 71.03; on March 24 – US$ 1=RUR 67.64). However, for the first time in recent years, a significant decrease of the US dollar value has not caused a similar drop of sugar prices, just on the contrary, the commodity became even more expensive. This could be justified by lower volumes of sales of beet sugar and the expectation of devaluation of the Russian ruble, at least, such forecasts were widely discussed by traders on the side-lines of recent Sugar Conference. Moscow ruble price of sugar has not changed, remaining at the level of RUR 41.60/kg; in Krasnodar price has added RUR 0.10/kg (+0.25%). The US dollar equivalent price in Moscow grew by US$ 0.029/kg (+4.95%), in Krasnodar the price has added US$ 0.030/kg (+ 5.26%).
UKRAINE
Ukrainian agricultural enterprises (excluding those in the Crimea and Sevastopol) have been selling sugar at an average of UAH 11,642.2/ton excluding VAT in January, according to the State Service Statistics of Ukraine. The average price of sugar has increased by 90.8% compared to January 2015 averages. In the period March 10 – 21, 2016 the average consumer price has decreased by 0.7%.
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