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RUSSIA
Consumer prices for sugar in Russia increased by 1.6% in a week from June 27 to July 3, 2017, and since the beginning of the year - decreased by 5.5%, according to Rosstat.
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According to price monitoring bySugar.ru for the period from 29.06.2017 to 06.07.2017, the US dollar rate increased by 0.1% (on June 29 - 59.54 RUR / USD, on July 06 - 59.58 RUR / USD). The ruble Moscow wholesale price for sugar increased by 1.30 RUR/kg (+2.90%), the Krasnodar wholesale price went down by 0.80 RUR/kg (-1.83%). US dollar wholesale Moscow sugar price increased by $ 0.021/kg (+2.79%), wholesale Krasnodar price fell by $ 0.014/kg (-1.90%).
It’s the second day the wholesale price stopped the growth and stays at the level of 43-44 rubles per kilogram in Krasnodar and 44-45 rubles per kilogram in the Central Russia (the prices are EXW), as well as several companies are dumping sugar at even a cheaper price. Prices for shipment by rail are lower, though large companies suggest long waiting time, up to a month, and it is very risky on the eve of a new harvest – in a week or two Krasnodar producers will enter the market with forwards for a new crop. The market froze in anticipation of falling prices, with everyone complaining about the lack of end-demand. But one should not expect a significant drop in prices in the short term, cold weather pushed back harvesting dates in the central part of Russia, so in August there will be offers for a new crop sugar only from the Krasnodar region, whose producers will skim the cream of such sugar deficit.
Exports of Russian sugar, as expected in the conditions of high domestic and falling global prices, are falling, but at least 20 thousand tons we will officially deliver to Kazakhstan and Azerbaijan in July. The monitoring of domestic shipments of sugar shows a significant growth in June: 156 thousand tons against 137 thousand tons in May, so there is no shortage of sugar in the regions yet.
UKRAINE
According to the State Fiscal Service figures for 6 months (January-June 2017), the export of sugar (HS code 1701) was 394.3 thousand tons, the main importers of Ukrainian sugar in money terms were SriLanka (10.64%) and Libya (9.83%). Export of molasses (HS code 1703) has made 43.6 thousand tons, almost half of the volume went to Taiwan (in monetary terms).
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