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Belarusian sugar refineries export $1.4bn worth of merchandise over seven years

SLUTSK, 19 July (BelTA) – As much as $202 million was invested in the modernization of Belarusian sugar refineries in 2015-2022. As much as $1.4 billion worth of merchandise was exported in this period. Deputy Prime Minister of Belarus Leonid Zayats mentioned it as he visited OAO Slutsk Sugar Plant, BelTA has learned.

Leonid Zayats said: “The sugar industry is a steady donor that replenishes the country’s budget. It contributed Br115 million last year. Apart from that, Br29 million was transferred to the national development fund. We get $165 in profit per tonne of sugar. As much as $202 million was invested in the modernization of the sugar refineries in 2015-2022. In this period we exported $1.4 billion worth of merchandise.”

The official added that as far as sugar availability is concerned, Belarus occupies one of the leading places – 150% of the demand. To compare, the figure stands at 118% in Russia, 68% in Kazakhstan, and 56% in Kyrgyzstan. “As a result of modernization of the refineries we’ve secured good economic parameters. For instance, the cost of heat and electricity per tonne of raw materials stands at 2.1%. The figure stands at 3.8% in Russia and 3.3% in Ukraine. Belarus has created a powerful industry for satisfying the domestic demand for sugar,” the deputy prime minister stressed.

Since Belarus is a major sugar exporter, Belarusian companies are becoming stronger financially and their workers demonstrate rising financial interests. The official noted that Belarusian sugar refineries employ over 2,800 people, with the average monthly wage at Br2,224.

“In H1 2023 the physical volume index of labor reached 141.8%, which is 1.4 times more than in H1 2022. Our enterprises also reported quite good profits and profit margins of about 24%,” Leonid Zayats noted.

Speaking about the performance of Slutsk Sugar Plant, the deputy prime minister noted the enterprise shows good economic and financial indicators. “The refinery has increased the volume of processing of sugar beet and has earned a good profit this year. Apart from that, it has sufficiently high earnings per worker – about Br384,000, with the profit margin of sales at 25%,” Leonid Zayats summarized.

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