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Sugar price falls 20-30% on internal market
26.03.2012 12:36 "Agro Perspectiva" (Kyiv) —
Ukraine is fully provided with sugar in the current marketing year, deputy director of the food department at the Agrarian Policy and Food Ministry Oleksandr Pechenoha told a press conference Monday.
«Sugar production volumes will be sufficient in order to provide for internal needs of the market. In addition, we have stocks in the state intervention fund, which has purchased them to the amount of 122,000 tons in the current marketing year. With taking into consideration availability of previous carryover stocks, sugar stocks now make up over 180,000 tons,» the official noted. At the same time, he informed that a price of sugar on the internal market fell by 2030%. According to him, the difficult price situation was formed, primarily, due to excess of sugar on the internal market. Since the market is actually limited by internal consumption alone. For today, a project was submitted to the Cabinet by the Agrarian Policy and Food Ministry on reduction of the minimum price for sugar. It is UAH 5,910/ton for today, Pechenoha noted. To remind, in the first ten-day period of April, a sowing campaign of sugar beet will start. It is planned to sow 594,000 ha with sugar beet.
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