On world markets, rising prices for sugar

2018-10-18 12:04:47
Machine translation
On world markets, rising prices for sugar

the price of sugar rising in anticipation of the harvest in Brazil and Asia, whose share in the world production of sugar exceeds 50%.

 

Long-term rainfall in the regions of cultivation of sugarcane in Brazil could reduce the harvest this year. Part of the harvest had to be gathered in advance of freezing in the middle of the year. Due to caused by the El niño drought in Asia, the sugar production is also reduced, in particular, in India – 8.5%.

 

this is the second consecutive season, the demand for sugar may exceed the supply, which will lead to a reduction of the reserves accumulated by surplus 2011-2014.

 

during the month sugar futures in London rose 21% from 312 to 378 $/t, while prices for cane sugar in Chicago – 255 to 302 $/t, which corresponds to January 2018

 

According to the forecast of the USDA, after the lifting of restrictions on sugar production in the current year, the European Union for the first time in 10 years, will start to export sugar. In comparison with the previous season, sugar production in the EU will grow by 2.1 million tons to a record 18.6 million tons, imports will fall to 2 million tonnes, while exports will increase by 700 thousand tons to 2.2 million tons

 

Rise in price of sugar on world markets may improve export prospects for domestic sugar producers. In 2017/18 MG Ukraine has reduced compared to the previous season, the export of sugar by 27% to 564 thousand tonnes, or 221 million $, and in the current season, according to experts "Ukrsakhar", will be able to export 500-600 thousand tons, the Main buyers will remain Uzbekistan, Turkey and Azerbaijan.

 

As of 16 October in Ukraine with 50% of the area collected 6.7 million tons of sugar beet with a yield of 48.2 t/ha, and 37 sugar factories produced 569,4 thousand tons of sugar.

 

In Russia on 16 October from 76.9% of the area collected 30.6 million tonnes of sugar beet with a yield of 35.8 t/ha, while on this date last year were collected 34.1 million tons of sugar beet with a yield of 42.2 t/ha. 72 sugar factories that are daily processed 368 thousand tonnes of sugar beet already produced 2.23 million tonnes of sugar.

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