Sugar exchange trading in Russia totals nearly 300,000 tonnes in 2024 - FAS
MOSCOW. Dec 27 (Interfax) - Sugar exchange trading in Russia has grown nearly fivefold since its launch in 2020 to total around 300,000 tonnes in 2024, with the launch of the sugar exchange index rendering formation of the price indicator for the product more transparent, the Federal Anti-monopoly Service (FAS) said.
The press release indicates that the methodology for calculating the sugar exchange index in the Central Federal District, which accounted for 57% of Russia's sugar production in 2024, was approved at a meeting of the exchange committee subcommittee for developing organized trading in agricultural products. The National Commodity Exchange (NCE), part of the Moscow Exchange Group, developed the methodology.
"Applying it will allow forming a territorial indicator that market participants could use when planning activities, as well as by government agencies when making regulatory decisions," according to the press release.
The FAS also reminds that the range of agricultural products sold on the exchange was expanded this year to trading in margarine, soybean meal, and meat for processing.
Additionally, the FAS this year obliged the Rusagro Group , Russia's largest vertically integrated agricultural holding, and the Cherkizovo Group to list at least 10% of the products they sell on the domestic market on the exchange.