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RUSSIA
Farmers in Karachay-Cherkessia face large losses because of torrential rains and hail running second week; the provisional volume of the damage caused to farmers is estimated at RUR 140 million. Various crops were severely affected in five districts of Karachay-Cherkessia including such as wheat, maize, sugar beet and barley.
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The court in Tula region has sentenced Rostislav Dalechin, the former general director of OJSC "Tovarkovsky Sugar Factory", to a fine of RUR 150 thousand. The CEO was accused of non-payment of salaries to workers.
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According to the information dated June 2, 2016 by the Ministry of Agriculture, sugar beet was sown on an area of 1,069,300 hectares, or 100.9% of the forecast (in 2015 – 1,009,400 ha).
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The Arbitration Court of St. Petersburg and Leningrad region received three claims against the companies “Lensahar","Proizvodstvenny Komplex" and "Victoria". The first two claims to recover RUR 133 million and RUR 47 million respectively in favour of banks "St. Petersburg" and "Intesa". The third claim follows the verdict of the arbitral tribunal on bankruptcy of debtors and was filed by a consulting company "Pro-cept" to recover the debt of RUR 590 thousand.
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The Federal Antimonopoly Service of Russia has allowed "Rusagro" group to acquire from GC "Razguliay" "Sugar Mill "Otradinsky", located in Orel region.
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According to Rosstat, the sugar stocks of the wholesale trade dropped to 82,848.6 tons in April 2016 (- 2.83% from previous month; – 41.63% for 12 months and – 17.32% YTD). In 2016, sugar stocks stay at minimal volumes over the past ten years. Sale of sugar has decreased to 142,664.5 tons in April 2016 (- 3.6% compared to previous month).
KAZAKHSTAN
According to the Ministry of Agriculture of the Republic of Kazakhstan, total acreage planted with sugar beet has reached 11,100 ha (89.5% of the plan) by June 3, 2016. In Almaty region the acreage makes 6 400 hectares (100% of the plan), and in Zhambyl region – 4,7 thousand ha (78.3% of the plan).
UKRAINE
Sugar prices in Ukraine have decreased by 0.20% for the week and stay in the range UAH 12 450- 12 800/MT. The range of prices for granulated beet pulp in Ukraine is UAH 3100-3250/MT this week; the price range for molasses is UAH 2500-2700/MT.
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The International Finance Corporation (IFC) will provide a loan of up to $ 25 million in the name of agro-industrial holding "Astarta" (Kiev).
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