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RUSSIA
According to the Novorossiysk Sea Port administration, the volume of transhipment of sugar amounted to 151 thousand tons in January-May 2017, which is 186 thousand tons or 55.2% less than in 2016.
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The consumer price for refined sugar has made average 43.51 rubles per 1 kg in May 2017, which is RUR 1.13 less than a month ago, Rosstat reports.
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According to price monitoring by Sugar.ru in the period from 08.06.2017 to 15.06.2017, the US dollar rate increased by 0.8% (on June 08 - RUR 56.59/$; on June 15 - RUR 57.03/$). The ruble Moscow wholesale price for sugar increased by RUR 1.30/kg (+ 3.33%), the Krasnodar wholesale price increased by RUR 1.60/kg (+ 4.21%). The US dollar wholesale Moscow sugar price increased by $ 0.018/kg (+2.61%), the wholesale Krasnodar price increased by $ 0.022/kg (+3.27%).
The growth of wholesale prices occurs in absolutely all regions, every day the prices grow by RUR 0.5–1.0/kg. Regional buyers, being initially sceptical about this trend, are forced to accept these rules and buy expensive sugar. However, this growth has not yet reached the end-user, while the stores sell out old "cheap" stocks. Thus, today in "Pyaterochka" of Moscow sugar costs about RUR 38.50/kg while the wholesale prices are RUR 40 and above per kg.
Cold weather reduces expectations for the harvest and shifts the start of the new season to a later date, which means that companies do not have any reason to dump sugar by dropping it.
Nevertheless, probably in the near future we will see a stop of the price growth, and maybe witness even a reverse trend. In any case, it will already make sense to import raw sugar at a price of RUR 44/kg and wait for the visit of FAS representatives, so the resistance level will be somewhere at RUR 42.00-43.00/kg.
KYRGYZSTAN
The newly modernized sugar plant “Koshoy” is scheduled to start operations in October 2017, according to Alexander Barbalat, General Director of the plant.
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