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.

World sugar prices in New York and London continue to fall due to increased production in Brazil. In New York, the price has decreased by 0.22, and in London by 10.70. Sugar production in Brazil has increased by 84% to 1.843 million tons.

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.

Wildfires on sugarcane plantations in Brazil have had a negative impact on the harvest. It is expected that they have destroyed up to 5 million tons of sugarcane in the state of São Paulo.

As a result, sugar prices have risen by 4.2%, causing concern in the market. The fires will exacerbate issues with processing sugarcane due to the damages incurred.

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.

Prices for sugar are rising due to fires and drought in Brazil. The harvest has been affected, and raw sugar futures have reached a 16-year high. The company has lowered its production forecast due to fires that have affected up to 450,000 hectares. Processing may be suspended by October. The situation also affects coffee and cocoa.

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.

Prices for sugar have remained stable due to low demand and fluctuations in the exchange rate of the ruble. High global prices and inflation may stimulate price growth, but excess production and high rates keep prices in check.

Sugar exports have decreased, but Russian raw materials have found demand, compensating for the losses. The total export volume in November amounted to 125 thousand tons.

In November 2024, the FAO Food Price Index rose by 0.5% to 127.5 points. The increase was driven by rising prices for oil and dairy products, overcoming the decline in prices for meat, grains, and sugar.

The sugar price index decreased by 2.4% to 126.4 points, with the decline attributed to sugar processing in India and Thailand, as well as the harvest in Brazil after the rains.