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Annual Report 2019

Rusagro has announced the end of beet sugar production season

29.12.20

In season 2020/2021 sugar plants of the Group operated for up to 110 days and produced 623.1 thousand tonnes of sugar. Output has decreased by 30% in comparison to the previous season.

Sugar production season has started on 1 September, 2020 and ended on 28 December, 2020. During the season Rusagro has processed 3.7 million tonnes of sugar beet, including 2.8 million supplied by Rusagro agriculture business, with an average sugar content of 20.5%. Sugar stock at the year end are estimated at c. 450 thousand tonnes.

In 2020, the Group also produced 105 thousand tonnes of sugar from molasses. Before beginning of the new season, Rusagro plans to produce c. 67 thousand tonnes of sugar from molasses.

According to the analytical center of Souzrossakhar, in reporting season as at 28 December, 2020 Russia has processed 29.8 million tonnes of sugar beet and produced 4.8 million tonnes of sugar (-33 и -29% respectively in comparison to the results recorded on the same date in 2019). Currently 21 sugar plants are working, which is 25 plants less than a year ago, and around 13 sugar plants should continue beet processing in the beginning of 2021.

Krasnodar price index on 28 December, 2020 reached 32.7 rub/kg excl. VAT, average price for 2020 should be around 27.4 rub/kg excl. VAT (+10% in comparison to 2019).