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RUSSIA
According to the Ministry of Agriculture, sugar beet was harvested from the area 741,300 ha (66.8% of the sown area) by October 19, 2016; bulk harvest makes 33.0 mln MT with the average yield of 44.48 MT/ha.
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According to the data of price monitoring by Sugar.ru for the period October 13-20 , 2016 the US exchange value has dropped by RUR 0.01 (on October 13: US$ 1=RUR 62.59; on October 20: US$ 1=RUR 62.58). Moscow ruble price of sugar increased by RUR 0.80/kg (+2.20%), in Krasnodar price jumped by RUR 1.60/kg (+4.44%). US dollar the price of sugar in Moscow increased by US$ 0.013/kg (+2.24%), in Krasnodar – by US$ 0.026/kg (+4.52%).
After price rise for the wholesale supply of sugar to RUR 37/kg by the end of last week, for the whole week the situation remained stable. Despite the efforts of large companies, restricting sales volumes, prices are no longer growing. Moreover, by the end of this week, the sharp decline of demand for sugar leaves sugar stocks unsold at even RUR 37/kg. Though formally announcing the price of RUR 38/kg, the company are immediately ready to give a discount of RUR 0.5-1.0/kg for buyers. As the expectations of the crop (ICAR raised the estimate to 5.62 million tons of sugar manufacture this marketing year and the main shareholder of "Rusagro" Vadim Moshkovich says about 1 million tons of surplus sugar) the market is waiting for further price declines and volumes traded are to cover current needs only. We do not see exports in such quantities that may affect the market, hence, we should expect prices falling in the near future.
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Penza regional sugar refineries processed 733.3 thousand tons of sugar beet and produced 100 thousand tons of sugar by October 20, 2016, according to the regional Ministry of Agriculture.
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In the first 9 months of 2016 the revenues of "Rusagro" from the sale of sugar increased by 3% - to 23.5 billion rubles, the volume of production amounted to 241,300 tons of sugar, including 178.5 of beet sugar; sales volume of refined sugar has made 532.1 MT, the press service of the company reported.
UKRAINE
Three sugar refineries operate in Ternopol region this season. By the October 18th local farmers have collected 366 000 tons of sugar beet (44%). It is planned to collect more than 900 thousand tons of sugar beet from which it is projected to receive 155 thousand tons of sugar, which is 20% more than last year, the press service of the regional administration inform.
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Ukrainian agricultural enterprises (excluding those in the Crimea and Sevastopol) were selling sugar at the average UAH 10958.9/ton without VAT (RUR 26 713/MT) in September, according to state statistics service.
KAZAKHSTAN
According to the national statistics committee, the volume of sugar and molasses production has decreased by 43.63% in September 2016 and has made 27 449 tons (in 2015 – 48 325 tons, in 2014 – 33 673 tons). From the beginning of 2016 the country has produced 339 290 tons of sugar and molasses, which is ahead of the pace of the previous three years.
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