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Wednesday 26.06.2019 | Name days: Inguna, Inguns, Ausma, Ausmis

Russia resumes sugar exports

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAfter twelve years of disruption, Russia has resumed its sugar exports by concluding supply agreements with Tajikistan and Kyrgyz companies, whose names, however, are not disclosed yet, reports RBK daily.

Sugar supply resumption was possible due to the record-large sugar beet harvest this year. In this way, the sugar output will rise to 4.3 – 4.6 million tonnes. Moreover, according to the Russian National Agrarian database, sugar prices in Russia fell by 26% in August, totalling 22.7 rubles (38 santims) per kilogram (including the value added tax). While global sugar prices have remained high – around 785 U.S. dollars (LVL 383) per tonne.

The Sugar Producers Association believes that in late 2011 and in the first quarter of 2012, Russia could export up to 400 thousand tonnes of sugar, generating a profit of 280 – 300 million U.S. dollars (LVL 137 – 146 million lats).

It is estimated that, if prices keep falling, Russia might export sugar not only to the CIS countries, but also to the European Union, the Middle East, China and Africa.


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