High grain prices may lead to higher reduction in sugar beet acreages in the CIS — Sucden
High grain prices may lead to a higher than expected reduction in sugar beet harvested area in 2019/2020 MY in the CIS countries, says the head of Sucden analytical department Marina Sidak at «Sugar World 2019» International congress.
She says, next year in Ukraine the harvested area will decrease by 11% — to 250 thousand hectares, and sugar production is expected at the level of 1,4-1,6 million tonnes. In addition, there will be an increase in transitional sugar stocks at the expense of accumulated unrealized export potential.
«Taking into account the protection policy of Uzbekistan, adopted by the Government to protect the interests of the national producers by reintroducing 20% VAT as a customs payment, next year competition with India, Pakistan and other countries for sales markets will increase», — comments the expert.
The expert noted the decline in global sugar production, the shortage in the world sugar market and the growth of world sugar prices among the main trends in the global sugar market in 2019/2020 MY.