Russian market - Latest Sugar News - Incubator

The government plans to postpone the deadline for payment of the recycling fee for the IV quarter of 2024 and I-III quarters of 2025 until the end of the year. The goal of the changes is to improve the financial position of equipment manufacturers. This measure has already been applied in the automotive industry.

Wholesale sugar prices are rising due to the devaluation of the ruble, making Russian sugar competitive in the global market. The export of sugar from Kazakhstan and Kyrgyzstan has increased due to the re-export of Russian sugar.

The forecasted sugar balance in Russia shows production prospects. The export and import of sugar and raw sugar continue to rise.

8 contracts for white sugar were sold on the National Commodity Exchange and 1 contract on SPbMTSB. The maximum trading price was 57000 rubles/ton on SPbMTSB and 56800 rubles/ton on NCE.

The Branch of the Holding "Tavros" will not pay dividends for the first 9 months of 2024 due to financial difficulties. Dividends of 1.9 thousand rubles per share will be redirected to finance other companies in the holding. Minority shareholders can expect payments in January 2025 after the funds are reserved.

In the Ulyanovsk region, more than 500 thousand tons of sugar beets were harvested with a yield of 384 c/ha, which is 27% higher than last year. This is one of the best indicators in the history of the region. This information was reported by the regional Ministry of Agriculture.

Natalia Goncharova, acting Minister of Agriculture of the Kursk region, announced a successful harvest. In 2024, 4.4 million tons of sugar beets were harvested, producing 460 thousand tons of sugar.

In Krasnodar region, sugar beet yield has decreased from 552 to 352 c/ha. In Voronezh region, 27 thousand hectares were replanted due to frosts, resulting in a yield of 389 c/ha. In Kursk, 4.4 million tons were harvested with a yield of 450 c/ha. Lipetsk region obtained 4.1 million tons due to frosts and drought. Orel region increased the yield by 57 thousand tons, while Tambov region harvested 4.5 million tons.

There was a stable situation in the sugar market: demand remained low, prices hardly changed. Production decreased due to the decline in the quality of sugar beets, however, there is still a surplus. Sugar and raw sugar exports decreased, while imports were cut by a third. The shortage of distillers grains supply to China affected the overall export volume.

The Ministry of Agriculture strives to reduce dependence on imported sugar beet seeds, noting a lack of domestic varieties. Russian projects are starting to develop new hybrids, but imports remain in demand due to quality. The issue is also related to financing the cultivation of the crop.

Contracts for white sugar were sold at NTB and SPMTSB at a price of 57200 rubles per ton. The volume of transactions ranged from 80 to 100 tons. The highest selling price at NTB was recorded in the Central Federal District, reaching 57200 rubles per ton.

According to Soyuzrossahara data on November 7, 2024, in Russia, 998 thousand hectares of sugar beets have been harvested, with 37,700 thousand tons harvested at a yield of 378 c/ha.

It is forecasted that no less than 55,176 thousand tons of beets will be harvested by November 29.

Companies from the villages of Chishma and Raevskiy in the Republic of Bashkortostan have sent 3530 tons of granulated sugar beet pulp to China in one day. This raw material, which has passed laboratory tests, meets high standards.

Since the beginning of 2024, 116.1 thousand tons of pulp have been shipped to China.