Sugar market news from Russia, Dec 22, 2021

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Rusagro has completed a harvesting campaign. The gross harvest of sugar beet in 2021 amounted to 3,674 thousand tons, which is 785 thousand tons more than in 2020 (+ 27%). The key reason for these results was an increase in yields by 19% due to measures to combat wind erosion and an growth of crop acreage by 7%.


On December 21, 2021, 3 sugar contracts were sold at NTB. The total volume of sales has made 220 MT at the average price of RUR 48291/MT (US$649,99/MT at the exchange rate of CBR on date indicated). Trading session closed at $651.46/MT (CFO).


A sugar beet crop of 9.6 million tons was harvested in 2021 in the Krasnodar Territory; a volume is close to a record figure for the region. In 2022, the projected volume of sugar production will be about 1.3 million tons, said the vice-governor of the Krasnodar Territory Andrei Korobka.



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