Moldovan Sugar Producers Halt Exports to Avoid Market Crisis

Moldovan sugar producers halted exports temporarily to avoid a “crisis” in the domestic market, the Agriculture Ministry said.

Local prices climbed as high as 16 leu ($1.33) a kilogram (2.2 pounds) from 11.5 leu in the past two months in line with gains in neighboring countries and on international markets, the ministry said in a statement on its website today. The decision to stop shipments took place at a meeting of the Consultative Sugar Council held in the ministry, it said.

Moldovan beet-sugar production exceeded 100,000 metric tons in 2010, compared with domestic demand of 65,000 tons, according to the ministry. The country’s two biggest producers, Suedzucker AG’s local unit and Magt-Vest, exported between 28,000 and 29,000 tons of the sweetener from last year’s beet-sugar crop, it said.

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