×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Beet Crop Promises Lower Sugar Imports

Russia's beet crop may result in record sugar production of 4.3 million tons for the year that begins in October, up 59 percent from a year earlier, said Yevgeny Ivanov, an analyst at the nation's agricultural institute.

Imports may drop 50 percent to about 1 million tons, according to the country's Sugar Producers Union. Russia is the biggest sugar importer in Europe.

"Output is growing in the Northern Hemisphere, and Russia is now talking about a record" crop, Thomas Mikulski, a senior strategist at Chicago broker Lind-Waldock, said late last week. "We will see some pressure on prices."

Raw sugar for October delivery fell 0.25 cent, or 0.9 percent, to settle at 27.54 cents a pound at 2 p.m. Friday on ICE Future U.S. in New York, the sixth decline in seven sessions. The price dropped 7.6 percent this week, the biggest slump for a most-active contract since May 6.

In London, refined sugar gained on NYSE Liffe.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more