Russian and Ukrainian sugar news, Apr 19, 2016

Latest news are available in our daily reports.

RUSSIA

Lipetsk arbitration has introduced bankruptcy proceedings for six months in respect of the sugar company "Varyag" which owes the bank over RUR 350 million.

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"Agros GROUP" has started sugar beet sowing campaign, with total 22,700 hectares planned for seeding.

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According to the Ministry of Agriculture figures dated April 18, 2016, sugar beet was sown on an area of 551,500 ha or 52% of the forecast (in 2015 – 285 400 ha). As of April 13, 2016, import of sugar beet seeds to Russia has made 2 300 MT. In January-February 2016 (compared to 2015) a 27.2% drop of sugar production was recorded. Volume of purchases of import white sugar increased by 31.8% in January-February on year to year terms; and import of raw sugar has decreased by 1.4%.

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According to the figures by Williams Brasil dated April 19, 2016, total 14 vessels have been nominated to carry 489 800 MT of raw cane sugar in 2016 season from Brazilian seaports to the Black/Baltic seaports with end-receivers in CIS, Georgia and Baltic states. As of today, the volume received and unloaded makes 279 800 MT from 8 vessels, based on Sugar.ru data.

UKRAINE

As of April 18 sugar beet was sown on an area of 259 000 hectares, or 96% of the forecast (in 2015 – 170 thousand hectares), according to the Ministry of Agrarian Policy.

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According to the State Service statistics for March 2016, the average price for white sugar from producers has decreased by UAH 19.13 and has made UAH 11,435.40 per metric ton (or RUR 30 623/MT at current rate of the Central Bank of Russia).

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Export of water with sugar has increased to 8 180 tons in March against 5 117 tons exported in February, according to the State Fiscal Service. In January-March the volume of export of water with sugar has made total 16.8 thousand tons.

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According to experts from "Institute of agrarian economy" in order to avoid shortage of sugar in the domestic market in 2016/17 marketing year, Ukraine needs to increase the national sugar beet acreage to at least 300 thousand ha (in 2015 - 237.5 thousand hectares).

Sugar.Ru