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RUSSIA
In February 2017 the consumer sugar prices in Russia decreased by 3.6%, in annual terms (vs. February 2016) - by 16.2%, according to Rosstat.
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Sugar beet sowing acreage will increase by 14,000 hectares in Krasnodar region this year, according to the regional Ministry of Agriculture.
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Bashkortostan plans to produce 1.4 million tons of sugar beet in 2017, the republican Ministry of Agriculture reports.
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According to Sugar.ru price monitoring data for the period from March 02–09 2017, the US dollar rate decreased by 0.2% (on Mar 02 - 58.38 rubles/$; on Mar 09 - 58.26 rubles/$). The ruble Moscow wholesale price for sugar dropped by 0.25 rub/kg (-0.74%), the Krasnodar wholesale price did not change, remaining at the level of 31.80 rubles/kg. US dollar wholesale Moscow sugar price fell by $ 0.003 / kg (-0.52%), the wholesale Krasnodar price increased by $ 0.001 / kg (+ 0.18%).
Wholesale prices for sugar continue to remain stable, despite expectations of a decline. "Dominant" and "Rusagro" did not enter the open market, thus, allowing "Prodimex" to dictate prices, which having dropped them to 31 rubles/kg, increased to 32 rubles/kg by the week. Tired of waiting for the decline, buyers are ready to procure the commodity at high prices and with long terms of shipment. However, the volumes purchased cannot be called significant, traders try to insured against the expected price reduction, which may be caused by the entry of Rusagro and Dominant into the market. We think such an assessment of the situation is reasonable.
BELARUS
Minsk region plans to increase the production of agricultural products by 8% in 2017, in order to achieve the goals it will be necessary to produce 2 million tons of sugar beet among other crops, the administration of the region.
ARMENIA
In Armenia, the average consumer price of sugar increased by 1.1% in February 2017 compared to the previous month, in annual terms (February 2017 to February 2016) – by 16.3%, according to the National Statistics Committee.
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