Russia has enough stocks to cater domestic needs despite estimated drop in sugar output

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Moscow: According to IKAR, a leading agriculture consultancy, Russia has enough stock of sugar to cater to domestic needs and keep exports going despite lower output in the 2020/21 season.

Reducing its reliance on imports, Russia has doubled its sugar production in a decade. As per the news report published in Reuters, due to weak domestic sugar prices and lower profits, farmers reduced their sugar beet sowing area by 18 per cent.

IKAR has cut Russia’s sugar output for season 2020-21 to 5.0-5.4 million tonnes from 5.6-6 million tonnes. Russia is carrying enough sugar stockpile from the last five years.

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