Sugar news from Russia and CIS countries, Apr 21, 2016

Latest news are available in our daily reports.

RUSSIA

"Rusagro" Group has announced IPO, with plans to raise about US$ 250 million. According to the Ministry of Agriculture, sugar beet was sown on an area of 629 200 ha or 59.4% of the forecast by April 20, 2016 (in 2015 – 350.3 thousand hectares).

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According to Rosstat, the sugar stocks in the wholesale trade decreased to 85 258.1 tons by the end of March 2016 (-15.23% the previous month, -46.14% for 12 months and -14.91% YTD). Such low stocks of sugar in Russia at the end of March were never ever observed over the entire period of monitoring.

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Consumer prices for sugar have decreased by 0.4% in the period April 12 to 18, 2016; from the beginning of the year the growth has made 3.6%, according to Rosstat.

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According to the data of price monitoring by Sugar.ru for the period April 14-21, 2016, the US dollar exchange value has grown slightly – by 0.4% (on Apr 14 – US$ 1=RUR 65.77; on Apr 21 – US$ 1=RUR 66.04). Moscow ruble price of sugar added 1.00 rub/kg (+ 2.45%), in Krasnodar the increase made 0.60 rub/kg (+ 1.52%), most regions have demonstrated growing prices as well. US dollar equivalent price in Moscow has added US$ 0.013/kg (+ 2.10%), in Krasnodar – US$ 0.006/kg (+ 1.00%), trends in other regions move in diverse directions.

UKRAINE

Sugar beet was sown on an area of 269 000 hectares in Ukraine by April 20, or 100% of the forecast, according to Ministry of Agrarian Policy.

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The profitability of sugar beet growing was at a level of 26.9% by the end of 2015. Areas under crops shrink every year. After the intervention of the Agrarian Fund in 2016, the price of sugar has dropped below production cost, added by large scale theft of sugar from warehouses of this organization, farmers are hesitant whether to produce sugar beet at all, writes "Infoindustriya".

KAZAKHSTAN

According to the Ministry of Agriculture, 4 100 hectares were planted with sugar beet by April 21, 2016 (33.1% of the plan).

BELARUS

According to the Federal Customs Service of Belarus, exports of sugar (HS 1701) have made 59 113 tons in the first two months of 2016, which is almost identical with volumes last year. Imports of raw sugar (HS 170114) have increased 6.9 times, and reached 77 307 tons.

Sugar.Ru