Ministry: Russian sugar producersТ prices rise 2.4% in January
MOSCOW, Feb 4 (PRIME) -- Russian sugar producers increased prices by 2.4% in January after a 45% decline in 2019, as seen by PRIME in the materials of the Agriculture MinistryТs analytical center on Tuesday.
УFrom January through December 2019, the sugar producersТ prices slid over 45% to below 20 ruble per kilogram, VAT included. The leading sugar companies are trying to stabilize the situation by reducing sales and accumulating products in the warehouses,Ф the document read.
УIn the light of several factors, including a gradually wrapping up campaign to process the bulk of sugar beet, sugar producersТ prices have demonstrated positive dynamics since the end of December 2019 rising by 2.4% to 20.5 rubles per kilogram as of January 23.Ф
The consumer prices for sugar fell 32.3% in 2019 and 1.2% in January to 30.82 rubles per kilogram.
The stabilization trend will continue because Brazil and India, the major exporters of sugar to Russia, decreased output in 2019Ц2020, the authority also said.
(63.9091 rubles Ц U.S. $1)