Dec. 7 (Bloomberg) -- Belarus has increased raw sugar shipments to Russia by 25 percent this year because of record output, the Institute for Agricultural Market Studies said.
Shipments of more than 31,000 metric tons in November brought the total this year to 226,000 tons from 181,000 tons in the same period last year, the institute known as Ikar said on its website today. Belarus will produce about 600,000 tons of sugar this season started Sept. 1, it said.
Shipment figures are for rail only, Ikar said. With more shipments in December, Belarus’s total sugar exports by rail may be 260,000 tons this year, Moscow-based Ikar said.
An increase in wholesale sugar prices in Russia and devalued currency in Belarus led to the increased shipments, Ikar said. Belarus is expected to ship another 205,000 tons of sugar this year to Central Asian states and Caucasian countries such as Armenia, Azerbaijan and Georgia, bringing total exports to at least 500,000 tons, Ikar estimated. Belarus sugar demand is about 380,000 tons, Ikar said.
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