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11 August 2020, 12:26

Government takes measures to develop Belarusian sugar industry enterprises

MINSK, 11 August (BelTA) – Chairman of the Belarusian state food industry concern Belgospishcheprom Anatoly Buben talked to reporters about the measures taken as a result of the government conference hosted by the head of state in order to effectively develop sugar industry enterprises, BelTA has learned.

The official noted that sugar prices had plummeted on the global market. “Our prime cost is below the prices we sell at. This is why we are working to reduce the prime cost,” he explained. At present the prime cost of one tonne of sugar made by Belarusian enterprises stands at $350, down from $500 last season. The prime cost was reduced thanks to internal reserves, lower costs, and state support. “For instance, in 2018 we bought sugar beet at Br70 per tonne. The state lent us a hand, compensated the cost of sugar beet to the agricultural producer. Now we buy at Br55 per tonne from the producer as part of government procurement contracts,” Anatoly Buben specified.

Apart from that, the head of state backed the proposal to allow Gorodeya Sugar Refinery, Zhabinka Sugar Plant, and Skidel Sugar Factory to keep some of the last year's profits, which are supposed to be transferred to the state budget. The money will be spent on paying off the loans of the sugar refineries.

A similar decision was made with regard to confectionery industry enterprises. “The dividends, which Spartak and Kommunarka are supposed to accrue and pay to natural persons, will be spent on modernization as well,” the Belgospishcheprom head said.

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