Eurasian Economic Union and CIS sugar news, Apr 03, 2017

Latest news are available in our daily reports.

RUSSIA

According to the Ministry of Agriculture, the wholesale price for refined has sugar increased by 3.8%, retail price has decreased by 0.8% in the period March 14 to 20, 2017.

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According to the rail cargo monitoring data by Sugar.Ru, Russia has exported 48.4 thousand tons of white sugar in March 2017. This is the absolute monthly record for the Russian white sugar exports for the whole period of data monitoring by Sugar.Ru. After the liberalization of the sugar market in Azerbaijan, the country has become a major recipient of Russian sugar, after 3 months it has received more than a quarter of Russian exports. Total volume of 184,100 tons of white sugar was exported by rail from the beginning of the season. Taking into account cross-border exports to Kazakhstan and export of Russian sugar by sea via Novorossiysk, we can expect final exports reach 250-300 thousand tons in the season, closer to the top estimate, and possibly even higher.

Eurasian Economic Union

The duty on importing raw sugar to the Customs Union remained at $ 140/MT in April 2017. The average monthly price for raw sugar at “The ICE” stock exchange in February was $ 398.11/MT, thus in May-2017 the duty would remain at $ 140/ MT.

UKRAINE

Ukraine has started sowing sugar beets on March 31 with 7 thousand hectares already sown, according to the Ministry of Agrarian Policy.

KYRGYZSTAN

The Government of Kyrgyzstan has approved the Program for the Development of the Food and Processing Industry for 2017-2021. According to this program, the sugar industry of Kyrgyzstan is represented by four plants, of which only OJSC "Kaindy Kant" operates as of today. The DC on beet of "Kaindy Kant" is about 3000 tons and 500 tons of raw sugar. Over the season it can process up to 400,000 tons of beets and produce up to 50,000 tons of beet sugar. The average annual calculated demand of the country’s population for sugar, based on the approved norms of 25.6 kg per capita, is about 155.0 thousand tons, which is provided mainly through imports. In 2014 - the import of sugar was 95.1 thousand tons. The pricing of sugar in the market is determined by imported sugar.

KAZAKHSTAN

According to StatCom, in March 2017 consumer sugar prices fell by 1.8%, from the beginning of the year - by 4.9%, and in annual terms (by March 2016) - increased by 0.9%.

Sugar.Ru