Lowest wholesale sugar price in five years falls by 27.5%

According to the Russian Association of Sugar Producers, wholesale sugar prices in Russia fell by 27.5% in June 2019 compared with November last year.
experts pointed out that this is the lowest price in five years.
price of sugar in November 2018 was 37 roubles per kilogram, down from 26.9 roubles per kilogram in June 2019.
sugar industry association said the decline was unusual.
peak season begins in August, and at the end of July, demand is traditionally higher, producers need to compensate for storage costs and wholesale prices rise.
Sugar Industry Association believes that oversupply is the main reason for this decline.
russia's sugar reserves reached a record 2.7m tonnes by the end of June.
in retailing is not significant: since January, sugar prices have fallen by 3.79 roubles per kilogram, according to the Russian National Statistical Office, with an average price of 43.19 roubles in June.
4.6 per cent compared with 41.29 roubles in June last year.