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Bumper Year for Sugar

Russia's exports of sugar made from domestically grown beets may reach 270,000 tons in the marketing year that ends on July 31, Yevgeny Ivanov, senior sugar analyst at the Institute for Agricultural Market Studies, said Friday.

Ikar, as the institute is known, raised the export forecast by 8 percent from 250,000 tons made in November after refineries produced a record 5 million tons of the sweetener by the end of January and still continue to process the beets.

Ikar raised its forecast for domestic consumption by 1.3 percent to 5.67 million tons this season from an earlier estimate of 5.6 million tons, Ivanov said.

(Bloomberg)

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