Belgospishcheprom: new sugar beet harvest enough to produce at least 650 thousand tonnes of sugar

In 2024, it is planned to harvest at least 5.2m tonnes of sugar beet – as informed by Aleksandr Yakovchits, the Deputy Chairman of Belgospishcheprom Concern, sb.by reports

As noted by Mr. Yakovchits, favourable weather conditions have played their role as well. “We recorded a historic harvest of sugar beet last your, and sugar industry enterprises, together with beet farms, have taken all measures to enjoy a good harvest in 2024 as well: beet farms have received additional financial support, sugar beet seeds, mineral fertilisers, and protective equipment. In addition, the weather is good, so we plan to harvest at least 5.2 million tonnes of beet,” he said, adding that this will be enough to produce at least 650 thousand tonnes of sugar. “It should be noted that the annual consumption of sugar domestically does not exceed 380 thousand tonnes, so we can assert that the domestic demand will be fully met.”

Belgospishcheprom’s Deputy Chairman also commented on sugar prices, “Thanks to the decisions taken by the Government several years ago, the situation in the sugar industry has been stabilised. The thesis that the selling price of Belarusian sugar does not cover its cost is fundamentally wrong. The domestic sugar industry operates efficiently and profitably, and it is the flagship of the food industry. In the seven months of 2024, the growth rate of revenue from sales in the industry amounted to 125.6 percent, and the growth rate of profit from sales made 107 percent.”

Mr. Yakovchits added that sugar industry organisations annually develop cost-reduction measures, and the scheduled plans are even likely to be exceeded this year. “Moreover, all industry organisations pay dividends to the state and are payers to the National Development Fund,” he said.