State Reserve plans purchasing 7,000 MT sugar (2006 beet) after selling of same sugar volume

06.07.2006 09:36 "Agro Perspectiva" (Kyiv) — State Committee for Material Reserves (State Reserve) is going to buy 7,000 MT sugar (produced from 2006 crop sugar beet) after selling of same sugar lot due to its plan of State reserves sugar renewal/replenishment, reported Yaroslav Boiko, State Reserve Material Storage Department Director, on press-conference.

As to Boiko, Committee has already submitted sugar sale proposal to Cabinet.

Boiko said sales are most likely to start in this year 3 quarter.

As to him, Committee will purchase sugar only at minimal prices set by Cabinet.

As to State Reserve data, in 2005 it had planned to purchase 50,000 MT sugar, yet in fact bought only 22,000 MT.

As earlier reported, experts estimate Ukrainian domestic market sugar reserves 0.8 mn MT.

Association Ukrtsukor forecasts this year beet sugar output 27.3% rise, to 2.6 mn MT (up against 1.89 mn MT in 2005) due to expected 2006 beet production growth to 20–21 mn MT (up against 15.5 mn MT in 2005).

Experts estimate domestic sugar market annual capacity 2–2.2 mn MT.

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