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RUSSIA
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).
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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.
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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.
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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).
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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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