IKAR in Mass and Industry Media

Russia May Import More Raw Sugar, According to IKAR

Bloomberg

Oct. 15 (Bloomberg) -- Russian raw-sugar imports may rise as much as 300,000 metric tons before 2010 ends, the Institute for Agricultural Market Studies said, cutting its forecast for refining from beets grown domestically by 6.4 percent.

Inbound shipments of raw sugar may climb by at least 250,000 tons compared with the prior estimate, Yevgeny Ivanov, an analyst at the Moscow-based institute, known as IKAR, said today by telephone. Russia will refine 2.48 million tons of white sugar from beets cultivated locally this year, he said.

The worst Russian drought in at least fifty years has seared fields across the country, damaging crops and prompting the government to ban all exports of grains.

Russia refined 3.28 million tons of white sugar from beet last year and another 1.77 million tons from imported supplies of raw sweetener.

Raw-sugar imports may come to 2.07 million tons this year and at least 2.7 million tons in 2011, Ivanov said. Shipments into Russia this year may exceed the current forecast if prices for the sweetener decline, he said. Price gains in recent months curbed activity by importers, he said.

25.10.10

All viewing: 123
Discuss