Sugar news from Russia and Ukraine, Nov 21, 2016

Latest news are available in our daily reports.

RUSSIA

Sugar consumption in Russia has decreased by almost 10% in the decade of 2005 to 2015, whereas the consumption of vegetables and fruit has increased by 38%, according to the Ministry of Health.

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According to the quarterly report of "Rusagro" for 9 months of 2016 the company has produced 241 thousand tons of sugar (in 2015 - 357 thousand tons), of which 179 000 tons made of sugar beet (in 2015 - 174 thousand tons). The volume of sugar sales amounted 532 000 tons at an average price of 42 rubles/kg without VAT (in 2015 - 556 thousand tons at 40.4 rubles/kg). Investments in the Sugar Division have reached RUR 1.731 billion, channelled to the modernization of sugar factories.

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According to the Ministry of Agriculture, by November 18, 2016 sugar beets were harvested from the area of 1.0558 million hectares (in 2015 - 987.4 thousand hectares), or 95.1% of the crop area. Bulk harvest makes 48,800,000 MT, with the average yield of 46.24 MT/ha.

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Production of refined beet sugar has amounted to 1.5 mln MT in Russia in October 2016, which is 1% less than in October of last year, according to Rosstat. In January-October 2016 the national production of beet sugar has reached 3.2 mln MT.

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Wholesale and retail prices for sugar decreased by 0.8% in the period November 8 to 14, 2016, according to the Ministry of Agriculture.

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The property "Giray Kuban Sugar" will be offered at the auction for the fourth time. The initial price – RUR 706 526 902.

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The Arbitration Court of Appeal has dismissed the appeals of nine companies affiliated with agricultural holding "Ivolga" against the lower court's decision to solidary recover from them the debt loan of $ 296,660,000 in favor of The Royal Bank of Scotland N.V.

UKRAINE

By November 18, the country has collected 12 million tons of sugar beets from the area of 251 thousand hectares, or 86% of the forecast; the average yield made 47.8 MT/ha (in 2015 – 42.4 MT/ha). The volume of sugar beet delivered for processing has made 11 million tons.

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Ukraine will produce 1.68 million tons of sugar in 2016/17 Marketing Year, which is 8.4% more than in 2015/16 MY (1.55 million tons), the US Department of Agriculture forecasts.

Sugar.Ru