Russian raw sugar imports down for 2011

Russian raw sugar imports are expected to be down for 2011 to 1.9 million tonnes from 2.1 million tonnes in 2010.  Domestic production of beet sugar is likely to be at a historical high in the region of 4.2 million tonnes.  Russia recently decided to cut tariffs on raw sugar imports to $50 effective from March. A move that may see a temporary slowing in imports until the tariff becomes effective.

High domestic beet sugar production may result in imports slowing in the second half of the year when further downward pressure on domestic prices is expected.

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