Russia is struggling with low sugar prices
Sugar producers and wholesalers in Russia’s Primorye region are struggling with a sugar surplus which has brought prices down by 20% during the first half of 2017, from RUB 42,1/kg (USD 0,73/kg) to RUB 33,9/kg (USD 0,59/kg).
«Zolotoy Rog» reports.
Wholesalers fear that prices may fall further on better harvest this year as more area has come under sugar beet and yields have improved, and an expert suggested that prices will fall below RUB 30/kg (USD 0,52/kg) in coming months if the current harvest is higher than in 2016. As a result of the low prices, Primorsky Sugar LLC who runs the sugar refinery in Ussuriysk has failed to turn a profit in the past two years.