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RUSSIA
According to the data of price monitoring by Sugar.ru for the period October 20-27, 2016 the US exchange value has dropped by 0.05% (on October 20: US$ 1=RUR 62.58; on October 27: US$ 1=RUR 62.26). Moscow ruble price of sugar increased by RUR 0.10/kg (+0.26%), in Krasnodar price decreased by RUR 0.60/kg (-1.60%). US dollar price of sugar in Moscow increased by US$ 0.004/kg (+0.64%), in Krasnodar – decreased by US$ 0.007/kg (-1.16%).
The crisis of sales at the end of last week, as expected, has led to a further drop of prices, however very slight, down to 36.5 rubles/kg basis EXW sugar plant in the central Russia. This price has survived until yesterday, and then it grew a bit. Officially, the minimum price of today (October 27) is 37 rubles/kg, but informally the companies are willing to go down to 36.7 rubles/kg. Companies, which have contracted large volumes of sugar in the previous 2 weeks, are limiting sales, running out of actual sugar, driving the market to stabilize prices. Our forecast of the likely drop in prices remains unchanged; the market doesn’t have the fundamental reasons for the prices to gro.
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According to "Soyuzrossakhar" total 23 thousand tons of white (refined) sugar was exported from the territory of the Russian Federation from the beginning of the production season 2016/17. The bulk volume was shipped to the Central Asian countries and to the largest importer - the Republic of Kazakhstan with up to 80% of exports among them,.
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Given the current record sugar beet harvest collected in Kursk region - about 5 million tons - most of the plants will operate in January-February next year, according to the regional administration.
UKRAINE
According to "Ukrtsukor", the total volume of 917 700 MT of sugar was produced at the factories of Ukraine from the beginning of the season and as of October 27, 2016. Sugar mills have received 7.3 million tons and have processed 6.3 million tons of sugar beet.
KYRGYZSTAN
Due to the early snowfall in Chui region of Kyrgyzstan, farmers have suspended harvesting sugar beet in the fields of the region. Yesterday the air temperature in the Chui region dropped to –5°C during the day.
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In 2016 season the country drafts to manufacture 550 thousand tons of sugar beets, according to the Kyrgyz government.
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КОММЕНТАРИИ