Prices for sugar in Russia have risen sharply
Prices for sugar in Russia have risen sharply, with wholesale prices up 26% year-on-year by late July and some retail suppliers reporting a 20–30% increase in procurement costs over the past month, driven by a 4.6% decrease in sugar beet cultivation area.
Consensus
- Wholesale sugar prices in Russia increased by 26% year-on-year by the end of July.
- The area planted with sugar beets in Russia decreased by 4.6% compared to the previous year.
- In some retail networks, procurement prices for sugar rose by 20–30% over the past month.
- The rise in sugar prices is attributed to reduced sugar beet cultivation.
Points of divergence
- The first Moscow report suggests that sugar prices may sharply increase soon, but does not specify the exact timing or additional factors beyond the reduction in sugar beet planting. — tg_mosguru
- The growth in wholesale prices is three times higher than in retail, and the average price of sugar is 75 rubles per kilogram, which is 9% higher than a year ago and 14% higher than in January. — tg_bazabazon
Coverage (2 sources)
- Sugar prices in Russia may soon soar sharply, — media. — Первый Московский
- Sugar in Russia is becoming twice as expensive as other products, and in the near future risks becoming even more expensive: wholesale prices are rising three times faster than retail... — Baza