Russian raw sugar imports plunge this year
MOSCOW. March 6 (Interfax) - Russian imported 700 tonnes of raw sugar of raw sugar in January for $800,000 versus the 93,600 tonnes the country imported for $76.4 million in January last year, thanks to a huge sugar beet harvest.
Imports of white sugar decreased to 3,000 tonnes from 3,600 tonnes in January 2011, with the cost dropping from $3.1 million to $2 million.
As reported, Russia harvested a record amount of sugar beet last year - 46.3 million tonnes versus 22.3 million tonnes in 2010. For the first time in the country's history, Russia produced more than 5 million tonnes of sugar from beet.
Russia's sugar requirements are estimated at 5.5-5.6 million tonnes per year. These needs have been met with sugar processed from beet and from imported raw sugar. Experts say that Russia could cut its raw sugar imports to a minimum this year.