The Ministry of Agriculture called the sugar market in Russia stable

Published 2022년 12월 27일

Tridge summary

The Russian Ministry of Agriculture has reported that the country's sugar market is stable and does not need additional regulation, including price ceilings. The ministry attributes this stability to increased sugar beet production and duty-free imports of raw sugar. The forecast for 2022 sugar production remains over 6 million tons, which is expected to meet domestic needs. Despite a slight increase in selling prices over the past year, they have decreased by 1.5% over the past month. The ministry has also cautioned the largest sugar producers about potential price restrictions for the first quarter of 2023, to prevent price hikes above 50-53 rubles per 1 kg.

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Original content

The Ministry of Agriculture assesses the domestic sugar market in Russia as stable, it does not require additional regulation. This is stated in the message of the ministry. "Currently, the domestic sugar market is stable and does not require additional regulation in the form of setting a price ceiling for this product," the ministry said. At the same time, as noted in the message, if necessary, the Ministry of Agriculture may consider various options for regulating the food market, including the conclusion of price agreements based on the experience of 2020-2021. The Ministry of Agriculture recalled that this season the volume of sugar beet production increased to about 48 million tons in bunker weight. To date, according to Soyuzrossahar, 38 million tons of root crops have been processed, of which 5.2 million tons of sugar have already been produced. The forecast for 2022 remains at the level of more than 6 million tons of sugar, which is enough to meet domestic ...

Source: Milknews