Rusagro plans to produce 890,000 tns of sugar in 2017–2018 season

MOSCOW, Nov 17 (PRIME) – Sugar output of Russian agricultural holding Rusagro will fall to 890,000 tonnes of in the 2017–2018 season, which starts on August 1, 2017 and will end in early 2018, from the previous season, when the company produced 898,900 tonnes, CEO Maxim Basov said in a conference call on Friday.

“In this season, which started in August and which ends in the first half of next year, the company plans to produce 890,000 tonnes of sugar. The season is not over yet,” he said.

“We plan to produce about 850,000 tonnes of beetroot sugar in our own season, which ends in December of this year, and then we plan to produce about 40,000 tonnes more of sugar from molasses early next year.”

He also said that prices for sugar have started to fall. For instance, the price in the city of Krasnodar fell to 20.6 rubles per kilogram in the first two weeks of November from 38 rubles in July.

“But the price will be a bit higher in November as we think that we’ve reached the minimum possible price a week ago. Right now, the price in Krasnodar is growing again, and stands in a range of 20–23 rubles, which is more than 2 rubles higher than the minimum price we saw two weeks ago,” he said.

(59.9898 rubles – U.S. $1)

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