IKAR in Mass Media

Russia's Sugar Production Is Seen at Lowest Since 2010-11

26 сентября 2014 года

Sept. 26 (Bloomberg) -- Russia probably will produce 4.3 million metric tons of sugar this season, the least since drought ravaged crops in 2010-11, after high temperatures again damaged beets, according to farm industry researcher Ikar.

That would compare with the 4.4 million tons of beet sugar produced in the previous season, Moscow-based Ikar, or the Institute for Agricultural Market Studies, said. The estimate for this season, which started last month and runs through March, compares with a forecast today by the economy ministry for a record 5 million tons.

The government’s estimate is “super-optimistic,” Ikar analyst Yevgeny Ivanov said by phone today. “The heat is so strong that they sometimes can’t dig the beets out. The soil is more like cement.”

A heat wave in central parts of Russia began in July and has continued into this month, Ivanov said. Imports of raw sugar from suppliers such as Brazil may rise to 930,000 tons this season from 650,000 tons a year before, according to Ikar.

The area planted with beets for this season’s crop expanded to 918,000 hectares (2.3 million acres) from 904,000 hectares and may increase again next season, Ivanov said. Farmers planted beets on a record 1.4 hectares in 1992, he said.

Source: Bloomberg | #sugar | Comments: 0 Views: 64

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