March 16 2004, 08:48 UNIAN

Sugar producers suggest postponing sales of state reserve sugar for 3 months

The National Sugar Association of Ukraine (Ukrtsukor) suggests starting to sell State Reserve sugar from July 1 instead of April 1 as it has been planned by the State Commodity Reserve Committee.

Peter Borisyuk, acting for the Head of the Association, noticed that market situation was negative for sugar producers at that moment, and selling State Reserve sugar until June may depress it more.

State Commodity Reserve Committee plans to sell about 85,000 tonnes of sugar from April 1 to September 1.

At the present sugar stocks in Ukraine are seen totaling 1.1 million tonnes. According to Ukrtsukor, sugar carryout stocks by September 1, 2004, are expected at 320,000-330,000 tonnes.

Ukrainian sugar plants have crushed 13.1 million tonnes of sugar beet and have produced 1.453 million tonnes of sugar since the beginning of the current marketing year.

Ukrainian sugar domestic consumption is seen at 2 million tonnes annually, experts say.