UZEX: Exchange prices for sugar falls

Tashkent, Uzbekistan (UzDaily.com) -- Khorazm-Shakar cut the starting prices for sugar, realized through exchange trades of Uzbekistan Commodity Exchange, on 26 August 2013. In particular, the prices for sugar fell by 10% - from 2,522 million soums to 2.298 million soums per tonne.

According to the experts, reason for change of starting prices at the UZEX is fall of global prices and growth of sugar offers at global markets. In last trades at New York Commodity Exchange, the October future prices for raw sugar fell up to 16.3 cents per pound.

In line with the forecasts of International Sugar Organizations, sugar offers will exceed demand in new season, which starts in October.

UZEX recalled that it has been trading sugar from October 2004.From the beginning of 2013, the exchange realized 29,300 tonnes of sugar for 77.5 billion soums.

Khorezm Sugar Plant is only producer of sugar in Uzbekistan, which has been operating since 1998.its capacity is 1,000 tonnes of sugar a day. In 2012, the enterprise produced 323,100 tonnes of sugar.