Sugar news from Russia, Ukraine and Belarus, Nov 17, 2016

Latest news are available in our daily reports.

RUSSIA

Soyuzrossakhar says that according to own data as of November 15, 2016 the area of sugar beet harvested has made 1047.0 thousand ha (94.3% of the crop acreage), bulk harvest has made 48.3 million tons at an average yield of 46.1 MT/ha.

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The consumer prices for sugar decreased by 0.8% in the period November 8 to 14 2016, and by 1.6% from the beginning of the year, according to Rosstat.

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By the end of the agriculture season "Agrosila" holding has received a record harvest of sugar beet – 964 thousand tons.

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According to the data of price monitoring by Sugar.ru, for the period November 10-17, 2016, the US dollar exchange rate increased by 1.0% (on November 10 - 63.89 rubles/$, on November 17 - 64.55 rubles/$). Moscow ruble price of sugar fell by 0.44 RUR/kg (-1.16%), Krasnodar price fell by 0.70 RUR/kg (-1.96%). Dollar Moscow the price of sugar fell by $ 0.013/kg (-2.20%), in Krasnodar price dropped $ 0.017/kg (-3.04%).

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The market continues the search for the price "bottom". With the growing expectations of the harvest sellers are experiencing increasing doubts over the opportunity to sell all produced sugar in a season, and buyers are in no hurry to store it. The lack of "safety cushion" with traders makes the market too volatile. All week, the major vendors have tried to keep the price of sugar (unofficially selling as low as RUR 35/kg for volumes exceeding 300 tons), but by Thursday they had to lower the price to 35 - 34.5 RUR /kg. The fall in prices is like to prevail in the short term, especially if Prodimex would emerge, the largest producer of sugar, which does not sell the commodity at the moment. The aim of Prodimex otherwise is to hold on till the last moment and sell expensive sugar closer to the 2017 summer, when the rest of the company would sell their stocks out. However, such a strategy in the condition of excessive production may lead to losses.

UKRAINE

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In January-October 2016 the average sales price of sugar beet was UAH 865.2 per ton (RUR 2,111.35/MT - Sugar.Ru) (excluding VAT, subsidies, transport, freight and overhead costs), according STATCOM. In October 2016 the average price for white sugar from producers was – UAH 11,371.42 per ton (RUR 27,749.78/MT at the current rate of the Central Bank of Russia). In September 2016 the average price has amounted to UAH 11,042.50/MT (RUR 26,947.12/MT).

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By November 16 the agricultural enterprises have collected 11.9 million tons of sugar beets from the area of 249 thousand hectares, or 85% of the forecast; the average yield is 47.8 MT/ha (last year on this date – 41.9 MT/ha), according to Ministry of Agrarian Policy.

BELARUS

According to the Statistic committee of Belarus, sugar production volume has reached 173.5 thousand tons in October 2016, thus in January-October 2016 the volume of sugar manufacture has made 580.5 thousand tons (+ 20% vs. 2015)

Sugar.Ru

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