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Volga Baikal AGRO NEWS Update on the Situation on the Sugar Market in Russia !!!
Situation on the Russian Sugar Market: October 26 – 30, 2020
As of October 26, 2020, according to the Union of RF Sugar Producers, 17,792.5 thousand tons of sugarbeet were processed; 2,725.8 thousand tons of sugar were produced.
Import
Volume of the raw sugar import (according to the Federal Customs Service of the Russian Federation) in the current year (as of October 25, 2020) amounted to 5.2 thousand tons (in 2019 – 5.4 thousand tons). The volume of the Russian import of white sugar (according to the FCS of Russia) in January – August 2020 fell by 28.6% and 121.1 thousand tons (in January – August 2019 – of 169.7 thousand tons).
Export
The volume of exports from Russia of white sugar (according to the Federal Customs Service of the Russian Federation) in January – August 2020 increased 3 times and amounted to 883.9 thousand tons (in January – August 2019 the volume was 299.3 thousand tons). The main buyer countries are Kazakhstan, Tajikistan, Azerbaijan, Turkey, Uzbekistan and Belarus.
Prices
As of October 28, 2020, according to the food safety monitoring and forecasting system of the Ministry of Agriculture of the Russian Federation, the prices for white beet sugar were at the level of 41.35 rub/kg (+4.2% within the week). The prices for sugarbeet reached 3.39 rub/kg(-1.6% within the week).
New York Mercantile Exchange
There was an increase in stock prices for the raw sugar. As of October 28, 2020, quotes were formed at the level of 328 USD / ton (+2.7% within the week).
