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Volga Baikal AGRO NEWS Update on the Situation on the Sugar Market in Russia !!!
Situation on the Russian Sugar Market: November 09 – 13, 2020 (Week 46)
According to the Union of Sugar Producers of the Russian Federation, as of November 09, 2020: 21,443.0 thousand tons of sugarbeet were processed, and 3,343.8 thousand tons of sugar were produced.
Import
Volume of the raw sugar import (according to the FCS – Federal Customs Service of the Russian Federation) in the current year (as of November 08, 2020) amounted to 5.5 thousand tons (in 2019 – 5.9 thousand tons). The volume of the Russian imports of white sugar (according to the RF FCS) in January – September 2020 fell by 40.2% and it amounts at 119.6 thousand tons (in January – September 2019 – 200.0 thousand tons).
Export
The volume of white sugar exports from Russia (according to the FCS – Federal Customs Service of the Russian Federation) in January – September 2020 increased 3.6 times and amounted to 1 025.3 thousand tons (in January – September 2019 it was 287.0 thousand tons). The main countries – buyers are Kazakhstan, Tajikistan, Azerbaijan, Turkey, Uzbekistan, and Belarus.
Prices
As of November 11, 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 42.24 rub/kg (+1.0% within a week). The prices for sugarbeet reached 3.65 rub/kg(+2.8% within a week).
New York Mercantile Exchange
There was a drop in stock prices for the raw sugar. As of November 11, 2020, quotes dropped till 319 USD / ton (-1.1% within a week).
