IKAR in Mass Media

Russia to build sugar refineries with 2 mln t capacity-AgMin

07 марта 2012 года

MOSCOW, March 5 (Reuters) - Russia plans to build two new sugar refineries in the Stavropol region, each capable of processing 1 million tonnes of sugar beet per year, Russia's Agriculture Ministry said on its website on Monday.

The two new refineries will increase annual production of beet sugar in the Stavropol region to 4 million tonnes. The statement didn't specify the owner of the project.

Russia, which is expected to produce a record amount of beet sugar this year, is bumping up against capacity constraints.

The country requires new investment in sugar storage capacity to prevent wastage of beets as it moves toward self-sufficiency in sugar, Sergei Gudoshnikov, a senior economist at the International Sugar Organization (ISO), said last week.

Russia, once the world's biggest raw sugar importer, has re-emerged as an exporter of home-grown beet sugar, and could ship up to 250,000 tonnes to world markets in the 2011/12 season, industry leaders said.

The Institute for Agricultural Market Studies (IKAR) estimated 180,000 tonnes had already been exported by the end of February.

Russia's domestic white sugar prices strengthened to $857 per tonne from $833 last week due to lowering beet sugar supply and concentration of volumes in the hands of a smaller number of traders, IKAR said on Monday.

Source: Reuters | #sugar | Comments: 0 Views: 70

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