Sugar news from Russia and Kyrgyzstan, March 29, 2021

Latest news are available in our daily reports.

RUSSIA

Russia will submit a proposal to introduce a tariff concession on the import of white sugar for the period from May 15 to September 1, 2021 to the Eurasian Economic Commission (EEC). The privilege will be provided if the Ministry of Agriculture of Russia confirms the intended purpose of the imported goods.

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On March 26, total 8 contracts of white sugar were sold at NTB and BSP. Total sales amounted to 740 tons at an average price of 45,295 rubles /ton ($ 594.62/ton at the exchange rate of the Central Bank on the indicated date). The close of exchange trading took place at the level of RUB 45,500 / t (CFO).

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The regulation of sugar prices in Russia is temporary and will be over by August, said Andrey Bodin, Chairman of the board of Soyuzrossahar. Referring to the proposal to cancel the import duty on sugar from May 15 to August 31 2021 and import it up to 350 thousand tons, Bodin said that this volume should not significantly affect neither the domestic sugar market, nor the balance of supply and demand. In addition, according to Soyuzrossahar, the CIS countries will grow the area under sugar beet by 7%, to make total 1.38 million hectares in 2021, and sugar production will increase by almost 1 million tons, to 8.2 million tons (7.35 million tons in 2020). In particular, production will increase by 16%, to 6 million tons in the Russian Federation, in Belarus - by 4%, to 550 thousand tons, in Ukraine - by 1%, to 1.45 million tons, in Kazakhstan - by 11%, up to 50 thousand tons, in Turkmenistan - by 33%, up to 20 thousand tons.

KYRGYZSTAN

According to the national Statistical Committee, 1,506.7 tons of sugar were imported in January 2021 (a year earlier - 2,642 tons). The main suppliers were: Russia - 1,421.7 tons; and Kazakhstan - 81.9 tons

Sugar.Ru

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