Sugar sales on Uzbek Commodity Exchange up by over 40 times

Business Materials 7 November 2019 17:35 (UTC +04:00)

BAKU, Azerbaijan, Nov. 7

By Fakhri Vakilov - Trend:

From Jan. through Oct. 2019, 48,100 tons of sugar were put up for exchange trading on the Uzbekistan’s Commodity Exchange (UZEX), of which 46,800 tons or 97 percent were sold, Trend reports citing UZEX.

Over the reporting period, sugar sales increased 42 times compared to the same period last year.

Of the sold amount of sugar, 22,900 tons or 49 percent of sugar was produced by Uzbekistan’s “XORAZM SHAKAR” JSC sugar plant , and 23,800 tons or 51 percent at Uzbekistan’s “ANGREN SHAKAR” LLC sugar plant.

During the period under review, sugar was sold unevenly over the months. The highest volumes were sold in February (8,800 tons) and June (5,200 tons), the lowest - in January (1,600 tons) and March (3,600 tons). Billing and sales of sugar have stabilized since May. The average monthly sugar sales from May through October amounted to 4,800 tons.

The average starting price of sugar for the period under review was $483 per ton, and the average selling price was $495 per ton.

According to Uzbekistan’s President Shavkat Mirziyoyev’s decree, starting on Jan. 1, 2020, at least 90 percent of sugar produced in the country will be sold only through the exchange to all categories of buyers based on market principles.

UZEX was established as an open joint stock company and registered under the Uzbekistan’s Ministry of Justice in April 1994. Today it is the largest trading platform in Central Asia and a dynamically developing commodity exchange in the CIS countries.

UZEX plays a significant role in ensuring equal access for national and foreign companies to highly liquid commodity assets produced in Uzbekistan, such as ferrous and non-ferrous metals, oil products, cotton fiber and cotton products, mineral fertilizers, sugar, wheat flour, grain and much more.


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