Russian sugar news, Sept 29, 2021

Latest news are available in our daily reports.


On September 28, 2021, 2 sugar contracts were sold at NTB. The total volume of sales has made 120 MT at the average price of RUR 45800/MT (US$630,32/MT at the exchange rate of CBR on date indicated). Trading session closed at $630.32/MT (PFO).


According to the Ministry of Agriculture of the Russian Federation, as of September 28, 2021, sugar beets were harvested from 299.2 thousand hectares; bulk harvest makes 11 million tons.


In the Penza region, as of September 29, agricultural enterprises have harvested 436.2 thousand tons of sugar beet with an average yield of 34.7 MT/ha. At the beginning of the week, the agrarians of Mordovia began harvesting sugar beets.


The Arbitration Court of the Tambov Region refused to reimburse 325.89 million rubles of value added tax to OOO Kristall (Kirsanovsky sugar plant, part of the ASB Group of Companies).


Sugar production in the 2021/22 season can reach 5.8 million tons, taking into account the processing of syrup and molasses, if farmers can harvest sugar beets from the entire acreage of 1 million hectares and keep the harvest with minimal losses until processing, says the leading expert of the Institute for Agricultural Market Studies (IKAR) Evgeny Ivanov.



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