IKAR in Mass and Industry Media

Russia Studies Proposal for Selling Stockpiled Sugar, IKAR Says

Bloomberg

Jan. 27 (Bloomberg) -- Russia’s government is studying a proposal from the country’s sugar producers to sell the sweetener from stockpiles, according to the Institute for Agricultural Market Studies.

Details of the proposal haven’t been disclosed, Yevgeny Ivanov, an analyst at the Moscow-based researcher, said by phone today. It was submitted to the agriculture and economy ministries last month by the Sugar Producers’ Union, or Soyuzrossakhar, he said.

Sugar prices may start declining if the state sells a total of at least 50,000 metric tons from inventories on the domestic market from February through April, according to Ivanov. He predicted higher sugar imports from May through July that also would help to balance local prices.

IKAR, as the institute is known, estimates that Russian sugar stockpiles came to almost 2 million tons at the end of 2010 and will expand to 2.7 million tons by this year’s close.

Soyuzrossakhar Chairman Andrei Bodin was not immediately available to comment today.

28.01.11

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