The world price of sugar fell by 3%

2017-12-08 12:16:27
Machine translation
The world price of sugar fell by 3%

the March futures for raw sugar fell by 3% to of 14.45 cents/lb or 318 $/t


the Main reasons for the decline in prices was the improving weather conditions in Brazil, together with the fall of oil quotations Brent to 61,75 $/barrel. Half made in Brazil sugar cane goes to ethanol production.


Advanced on the market puts pressure seasonal increase in production and sales of beet sugar. Traders believe that the downward trend will continue for some time, until new factors supporting prices.


Due to the high world sugar prices in November, Ukraine was able to export of 67.2 thousand tons of sugar, which is 59% higher than in October, when foreign markets were supplied 42,3 thousand tons of sugar. During September, the country exported 17 thousand tons of sugar.


the Main buyers of Ukrainian sugar are traditionally Turkmenistan and Sri-Lanka (14%), Switzerland (12%), Azerbaijan (11%) and Turkey (10%).


In the 2016/17 season the sugar production in Ukraine has grown to 2.02 million tonnes, while exports amounted to 770 thousand tonnes, while domestic consumption continues to decline annually.


As of 6 December in Ukraine from 12.27 million tonnes of sugar beet produced 1.75 million tons of sugar.


On 1 Dec collected 14.4 million tonnes of sugar beet from the area of 314 thousand hectares (99% of the planned 318 thousand hectares), average yield of 46 t/ha.