News

Sugar exports from Russia have intensified, according to ICAR

Sugar
Russia
Market & Price Trends
Published Nov 17, 2023

Tridge summary

Russia has seen an increase in sugar exports to various markets, including CIS countries, Mongolia, Afghanistan, and Serbia. This surge in exports is driven by low prices in Russia due to excess production, which is significantly higher than domestic consumption. The increased exports are expected to help balance prices and remove surplus sugar from the domestic market.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

This will remove excess production from the domestic market. Sugar exports from Russia have intensified from August to September, leading expert of the Institute for Agricultural Market Studies (IKAR) Evgeny Ivanov told Agroinvestor. “We have returned to almost all markets accessible to Russia by rail - these are deliveries to the CIS countries and Mongolia. Also, automobile deliveries to Afghanistan have already begun, and we are delivering some to Serbia. From the end of October, supplies of raw beet sugar by grain hoppers to Uzbekistan began (in the 2019/20 season they exceeded 100 thousand tons). A strong return to all these markets suggests that the price in Russia is low. Active exports will allow us to remove excess sugar from the domestic market, which is noticeably higher than the volume of consumption. As a result, prices may balance out in a few months,” says Ivanov. At the moment, his estimate of sugar production in the Russian Federation, taking into account the ...
Source: Specagro
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