IKAR in Mass and Industry Media

Russia’s Sugar Refining Advances to Two-Year High, IKAR Says

Bloomberg, 04.06.10

May 26 (Bloomberg) -- Russia’s raw-sugar refining advanced to a two-year high this month, the Institute for Agricultural Market Studies said.

Refining reached 20,000 metric tons a day in the middle of this month, the fastest pace since July 2008, the Moscow-based institute, known as IKAR, said today in a statement. More than another 1 million tons of raw sugar needs to be refined by August, IKAR analyst Evgeny Ivanov said by phone, citing preliminary customs data.

Sugar plants switch to domestic beet in August. They are projected to produce 3.8 million tons from domestic beet supply through February, compared with 3.25 million tons a year earlier, IKAR said.

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