Bashkiria increased sugar exports by 8 times amid falling prices in Russian market
Bashkiria has already exported 41.5 thousand tons of sugar for $ 15.1 million, RBC Ufa reports. Last year, over the same period, 5.1 thousand tons were shipped abroad for $ 2.26 million. The reason for the eight-fold increase in supply volumes is the overproduction of sugar in the republic in 2019 when agricultural producers harvested 1.8 million tons, and three Bashkir factories have produced more than 200 thousand tons of sugar.
In the current season, Russia will reach the seventh place in world sugar exports, experts say. For the period from October 2019 to the end of September 2020, Russia will supply almost 1.8 million tons of sugar abroad, follows from the presentation of the International Sugar Organization with the May forecast of the global sugar balance.
In Bashkiria, three enterprises are engaged in sugar beet processing. At the beginning of 2020, Meleuzovsky Sugar Plant JSC suspended its activities by the decision of the owner, Prodimex Group of Companies, due to a two-fold drop in prices in the Russian market.
By the end of the year, Chishminsky Sugar Plant OJSC entered the top 3 agricultural exporting enterprises. According to the results of 2019, 2.44 billion rubles of profits were received — 20.3% higher than in 2018. The enterprise produced 90 thousand tons of sugar, 17 thousand tons of molasses, 12 thousand tons of dry granulated pulp.
LLC "Raevsakhar" produced 100 thousand tons of sugar over the past season (the volume covering the annual demand of the republic). At the end of March 2020, more than 50 thousand tons of sugar were stored in the warehouses of Rayevsky Sugar.
The surplus of Bashkir sugar last year was sent mostly to Kazakhstan and Uzbekistan.