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RUSSIA
According to the data of price monitoring by Sugar.ru for the period August 25 to 01 September, 2016, the US dollar exchange rate grew by 0.7% (on Aug 25 – 64.81 RUR/USD; on Sep 01 – 65.25 RUR/USD). Moscow ruble price of sugar rose by RUR 2.90/ kg (+7.57%), Krasnodar price increased by RUR 1.70 / kg (+4.72%). Dollar Moscow the price of sugar rose by USD 0.040 / kg (+6.77%), Krasnodar price increased by US$ 0.023 / kg (+4.14%).
The price reversal, which we assumed in the last report, has occurred, since August 24 sugar prices grow at the same rate at which it previously fell. For the week, the wholesale price in Krasnodar increased by RUR 1.7, to 37.7 RUR/kg. The Leader of low prices - "Rusagro" has stopped the sale of cheap forward contracts by the price - 33.5-35 RUB./kg, and raise the price to 37 RUR/kg, who did not, "Rusagro" is not to blame. Spot sugar by self-worth costs 39 RUR/kg – significantly more expensive than the delayed by 7-10 days shipment by rail, the timing of shipments has increased. This indicates a deficiency of sugar in the market, all the nearest sugar already are contracted. If in the beginning of the reversal the market was dominated by doubt, now, it seems, the participants are actively involved in the game to increase the price, it is increasing daily, and even during the day. Most likely, the growth rate will start to fall in the near future, as the sugar from all plants engaged in the beet processing will enter the market.
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In the period August 23–29, 2016 Russian consumer sugar prices decreased by 1%; from the beginning of the year (vs. the end of December 2015) – increased by 8.4%, according to Rosstat.
KAZAKHSTAN
According to the national statistics Committee, the consumer prices for sugar have increased by 2,9% in August 2016; from the beginning of the year the growth has made 30.2%, while in annual terms (July 2016 to July 2015) - by 63.6%.
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Department of the Committee on Regulation of Natural Monopolies and Protection of Competition under the Ministry of National Economy of the Republic of Kazakhstan launched an investigation against 7 wholesale sugar distributors, accused in "unmotivated price increase".
UKRAINE
Ukraine has produced 6,5 thousand tons of sugar from the beginning of the season and as of August 31, 2016, according to “Ukrtsukor”.
BELARUS
The Slutsk Sugar Refinery started processing sugar beets. It plans to process more than 1 million tons of roots in the season. At the current date, the digestion has made 16.5%, later it can reach to 17%.
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