Russian Sugar Imports Rising

Russian Sugar Imports Rising

KIEV - Mar 1/06 - APK -- Russian raw sugar imports may increase as
rising domestic prices make the refining of raws profitable, local
analysts say.

"Russia may import up to 280,000 metric tons (MT) of raw sugar in
February this year, compared to around 140,000 in February 2005,"
Yevgeny Ivan of the independent Institute for Agricultural Market
Studies (IKAR), said in a note.

"From March 2006, Cuba will join the traditional supplier Brazil. If the
price trend is maintained, Ikea believes Russia may import no less than
300,000 MT of raws in March-July."

Ivan estimates that current world prices of sugar at around 17.62 cents
per pound, down from a recent peak of 19.73 cents, correspond to
production costs of cane sugar of $720-$730 MT ex-works in the benchmark
Krasnodar region.

http://www.agreport.com/open/184487.phtml