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Russian Sugar Imports RisingKIEV - Mar 1/06 - APK -- Russian raw sugar imports may increase as rising domestic prices make the refining of raws profitable, local analysts say. "Russia may import up to 280,000 metric tons (MT) of raw sugar in February this year, compared to around 140,000 in February 2005," Yevgeny Ivan of the independent Institute for Agricultural Market Studies (IKAR), said in a note. "From March 2006, Cuba will join the traditional supplier Brazil. If the price trend is maintained, Ikea believes Russia may import no less than 300,000 MT of raws in March-July." Ivan estimates that current world prices of sugar at around 17.62 cents per pound, down from a recent peak of 19.73 cents, correspond to production costs of cane sugar of $720-$730 MT ex-works in the benchmark Krasnodar region. Subscribers can read the full text of the article by Clicking here
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