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RUSSIA
A volume of 100 tons of sugar (basis the CFD) was sold at weighted average price of RUR 36.70/kg at the National Commodity Exchange on July 26.
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According to price monitoring by Sugar.ru for the period from July 20 to July 27, 2017, the US dollar rate rose by 1.1% (on July 20 – RUR 59.24/US$; on July 27 – RUR 59.91/US$). The ruble Moscow wholesale price for sugar fell by RUR 4.20/kg (-9.57%), the Krasnodar wholesale price went down by RUR 2.80/kg (-6.86%). US dollar wholesale Moscow sugar price decreased by $ 0.078/kg (-10.53%), the wholesale Krasnodar price went down by $ 0.055/kg (-7.98%).
Our earlier expectations over possible price rise have come true to the exact opposite, the price is rapidly falling. Companies and farmers dump the remains of old sugar from the stocks. The low quality of Krasnodar "farmer" sugar, caused by wet weather, should be kept in mind. New Krasnodar plants with sugar of a new season harvest are entering the market, and the launch of Uspensky sugar factory (Prodimex) is planned for August 5. In the expectation of further falling prices, demand continues to remain low.
Export of sugar by rail in July (7.8 thousand tons as of July 27) dropped more than five times, compared to March-April, and almost three times compared to previous June. The export to Azerbaijan, which in the best months of 2017 exceeded 20 thousand tons, has practically ceased.
Domestic shipments by rail continue to be low with only 76.7 thousand tons were shipped during the 27 days of July, while in June the shipments made 155.7 thousand tons (and in June 2016 – 118.7 thousand tons).
The National Commodity Exchange once again has burst with a surprise, selling 100 tons of sugar at an average price of 36.70 rubles per kilo, with delivery from the Central Federal District.
UKRAINE
Maxim Martynyuk, Acting Minister of Agrarian Industry, said that weather conditions will not affect the state of sugar beet crops and there are no grounds for sugar prices in Ukraine to grow.
KAZAKHSTAN
According to the Statistic Committee, the stocks of sugar and molasses with the industrial enterprises amounted to 33,211 tons at the end of June (at the end of March - 34,367 tons).
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