Sugar market news from Russia and CIS countries, Nov 27, 2020

Latest news are available in our daily reports.

RUSSIA

According to USDA forecasts, sugar production will decrease to 5.5 million tons (May forecast - 6.5 million tons, in 2019/20 MY - 7.8 million tons). Local demand will amount to 5.607 million tons (May forecast - 6.2 million tons)

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The production of beet sugar in Russia will amount to 5.05-5.2 million tons this year, taking into account the processing of syrup and molasses, according to the Institute for Agricultural Market Studies (IKAR).

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According to the Ministry of Agriculture of the Russian Federation, as of November 26, 2020, sugar beets were harvested from 918.2 thousand hectares or 99.4% of the crop acreage; total 33.4 million tons were collected; the average yield makes 36.37 MT/ha.

UKRAINE

According to USDA forecasts, sugar production is expected to decline to 1.559 million tons (unchanged from May forecast, in 2019/20 MY - 1.609 million tons).

BELARUS

In Belarus, sugar beets were harvested from 81.6 thousand hectares or 99.6% of the area sown (in 2019 - 93.2 thousand hectares) by November 27, 2020, the Ministry of Agriculture and Food of the Republic of Belarus told Sugar.Ru. A volume of 4070.6 thousand tons (in 2019 - 4932.2 thousand tons) of beets collected; the national average filed yield of 49.88 MT/ha (in 2019 – 52.93 MT/ha). Sucrose content makes 16.28% against 16.88% on the same date last year.

UZBEKISTAN

The goverments plans to re-introduce an excise tax of 20% on the imported sugar as follows from the draft law published. Excise tax will be levied on products with the TN VED 170199 code: white sugar without flavouring, aromatic or colouring additives. The project initiator – the Ministry of Finance – notes that at the same time, the import of raw sugar is not subject to excise tax.

Sugar.Ru

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