Azerbaijan, Baku, august 15 / Trend capital N. Ismayilova /
Imishli sugar mill entering Azersun Holding plans to preserve the same prices for products despite increase of prices for sugar on the world markets, the holding said on August 15.
"As prices for sugar as for one of few products are regulated on exchange, further change of prices for sugar can not be forecasted exactly. But the holding does its best to preserves the same prices," the holding said.
At present, Imishli mill provides domestic market with sugar and exports it to Central Asian countries, the holding said. Competitiveness of its production has great importance for the mill.
"The holding will continue to provide Azerbaijani domestic market with high qualitative sugar-beet trying to preserve the same prices," the holding said.
At present, the holding has production to provide demand for sugar during a month.
At present, production of Imishli mill exceeds Azerbaijani needs in sugar two times. Annual production of sugar hits 400,000-450,000 tons given demands of domestic market for 230,000-250,000 tons.
Production of Imishli mill is exported to Turkmenistan, Afghanistan, Georgia, Ukraine and Iraq.
According to Bloomberg agency, the forecast of prices' increase for this product hits to 40 cents per pound ($881 per ton) on the world markets. Leadership of Al Kaleej Sugar Co. Forecasts increase of prices for sugar. It owns the largest sugar mill in the world.
Sugar has risen in price twice since early 2009. On Wednesday, its cost has increased to a maximum - 23.33 cents per pound within 28 years expecting that bad weather in India and Brazil, the world's leading producers of this product, will lead to increase of the deficit.
Azersun Holding was established in 1992. The holding's activity includes processing and packaging of tea, vegetable oil, trade and distribution, construction, banking, insurance, production of paper, tinned meat and vegetables, transport and storage of goods, etc.
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