Business news

MINSK, 1 May (BelTA) – The Belarusian state food industry concern Belgospischeprom plans to launch sugar supplies to China in 2018, BelTA learned from Chairman of Belgospischeprom Concern Alexander Zabello.

“China produces less sugar than it consumes. The country imports millions of tonnes of sugar. This year we plan to enter the Chinese market with Belarusian sugar,” said Alexander Zabello.

In his words, there is an oversupply of sugar on the global market. The issue was discussed at the international conference “CIS Sugar Market 2018”. In 2017, Ukraine, Belarus and Russia posted the surplus of white sugar to the total tune of more than 1.5 million tonnes, which entailed a 40% decline in sugar prices and placed the EAEU sugar industry in an unfavorable position. Another reason for the price drop on the CIS market was the lack of areas to store sugar. Today, Kyrgyzstan secures the storage of only 45% of sugar volumes, Russia – 50%, Kazakhstan – 60%, Ukraine – 80%, and Belarus and Moldova – 100%.

Belarus will produce about 650,000 tonnes of beet sugar from its 2017 harvest, which is a record high achievement for the industry. “The success was reached thanks to a 7%-growth in the areas under sugar beet on 2016 and the increase in yield. I am confident that our product will keep its positions on the world market, first of all thanks to its high-quality,” Alexander Zabello said.

The Belarusian sugar industry is represented by Slutsk Sugar Refinery, Gorodeya Sugar Refinery, Skidel Sugar Refinery, and Zhabinka Sugar Refinery. These companies make part of Belgospischeprom. They meet Belarus’ needs in sugar in full and sell it to 15 countries.