Local sugar production meets the full needs of the EAEU countries

According to the Eurasian Sugar Association (Association), by October 31, 950.7 thousand rubles were collected in the EAEU countries. hectares of sugar candles, which is 19% more than last year, Soyuzrossakhar reports. The total volume of sugar beets harvested amounted to 45.5 million tons, which is 9.3 million tons higher than the same year in 2022. Since the start of the current 2023/24 production season in August, the EAEU has produced 3.65 million tons of beet sugar, which is .45 million tons more than last year. It is predicted that there will be enough resources not only to maintain the internal market of the EAEU, but also for export beyond its borders.

Sugar prices in the EAEU countries have decreased by 10% since the beginning of the current season and range from $550 to $690 per ton excluding VAT, depending on the country. These prices are stable in the CIS countries and throughout the world. On the London Stock Exchange the price of white sugar is $745 per ton.

This situation in the EAEU sugar market allows producers of sugar-containing products to work on more competitive terms and export not only to the countries of Central Asia, but also to the countries of Latin America, Southeast Asia and Africa.