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RUSSIA
Leonid Ragozin was appointed CEO of Agroholding "Kuban". Prior to joining the agri-business, he served as managing director of the Krasnoyarsk Aluminum Plant.
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Russian consumer prices for sugar decreased by 1% in the period January 31 to February 6, 2017; from the beginning of the year the decrease made 3.3%, according to Rosstat.
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According to the data of price monitoring by Sugar.ru for the period February 02-09, 2017 the US dollar exchange rate dropped by 1.3% (on Feb 02 the rate was RUR 60.31/USD; on Feb 09 – RUR 59.51/USD). Ruble Moscow wholesale price of sugar has increased by 1.20 RUR/kg (+ 3.69%), Krasnodar wholesale price increased by 1.30 RUR/kg (+ 4.21%). US dollar equivalent Moscow wholesale price of sugar rose by $ 0.027/kg (+5.01%), Krasnodar wholesale price rose $ 0.029/kg (+5.66%).
Our previous estimate of the upper ceiling of 31.5 RUR/kg (basis EXW Krasnodar) has turned out to be too pessimistic; the price quickly rose to 32.5 RUR/kg, and stopped at this level. Many companies which were waiting for silver lining have launched sales. On Thursday, February 9 the trend has shown signs of reverse motion – wholesalers were gently offering discounts of up to RUR 0.30 from the official price list. There are proposals for the supply of sugar to the regions with the estimated price of less than 32 RUR/kg (recalculated basis EXW Krasnodar). It’s most likely that we will witness a slight roll back down as the companies which are selling sugar at expensive prices do not plan to necessarily dump the commodity in the short term.
UKRAINE
"Ukrtsukor" reported that supports the decision of the Ministry to abolish the minimum prices for socially important goods, as such government regulation is outdated and is an unnecessary mechanism and will not lead to the disappearance of the "social product".
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According to the State Statistics Service, the price of sugar from producers fell by 0.6% in January 2017, and on an annual basis (vs. January 2016.) has increased by 1.2%. Consumer prices for sugar increased by 0.5% in January, while in annual terms fell by 1.1%.
KAZAKHSTAN
Russian sugar is in great demand, than the commodity produced locally in Kazakhstan, due to cheap prices, said the director of LLP "Central Asian Sugar Corporation" Galina Baymurzayeva: "Now they offer sugar for 198 Tenge (RUR 36/kg - Sugar.Ru), and we have 215/kg today including tax and shipping."
ARMENIA
In January 2017, the average consumer price of sugar increased by 0.6%, according to the NatsStat. On an annual basis (January 2017 compared to January 2016) the consumer price of sugar rose by 15%.
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