News
26.09.2013
Sugar stocks in intervention fund amount to 179,000 tons
Beet sugar production in 2012/2013 marketing year (September 2012 - August 2013) made up 2.206 million tons with domestic consumption reaching 1.8 million tons. Sugar stocks in the state intervention fund make up 169,400 tons today.
Those data were cited in a statement by the Economic Development and Trade Ministry, Ukrinform reports.
The Ministry specialists note that the produced volume jointly with carryover stocks allowed not only providing for internal consumption of the product at the level of a rational norm at 38 kilograms per head, but forming considerable carryover stocks for the end of the marketing year - 889,000 tons, which corresponds to the six-month need. Excessive volumes of this product are planned to be sent for reprocessing.
Total sugar supply will be enough for satisfaction of the internal market demand - 1.826 million tons and formation of the necessary carryover stocks - 408,000 tons.
In 2012/2013 marketing year, 134,000 tons of national sugar will be sent to foreign markets, and the products import was insignificant and made up only 2,000 tons.
At the same time, a wholesale-selling price for this product in Ukraine fell by 3.1% and made up UAH 5,250-5,550/ton, depending on the quality of the product and payment terms.
The main factor for price reduction is expecting of sugar production growth in Brazil. Improvement of the weather conditions in this region gives hope for good rates of sugar cane harvesting and, consequently, for the rise of sugar production. According to expectations of market operators, this index may reach 6 million tons.
