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24/11/2024
Sunday
THIS DAY IN HISTORY:
24 November 
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
24 November
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
TWO LARGEST SUGAR PLANTS WERE CLOSED IN UZBEKISTAN
At the beginning of July, two largest sugar plants in the Republic of Uzbekistan terminated their activities. "Angren Shakar" and "Khorezm Shakar" were the only producers of the product throughout the country. Now the imports from Russia and other countries will become the source of sugar. The experts predict a shortage of goods and a related rise in sugar prices.
The reason for the pant’s shutdown, as noted by the numerous analysts of the Central Asian market, was the fall in demand for the companies' products. The enterprises were on the verge of bankruptcy, and the suppliers stopped shipping raw materials. It turned out that the warehouses of both companies were overcrowded because the prices did not allow the companies to compete with the importers.
In 2020, sugar was included in the list of goods that are not subject to customs duties and excise taxes by law. As a result, the market was full, and there was no one to buy the products of local enterprises.
Both plants were built not so long ago. The Khorezm Shakar plant, located in the Khazarasp district of the Khorezm region, was launched in 1998. It currently has 1,500 employees. The Angren Shakar plant has been operating since 2014 and is located in the Tashkent region. It has about 500 employees, as indicated on the company's website. It is not very clear what the management of the factories will do with the workers.
At that time, the majority of workers were sent on unpaid leave for several months. One of the reasons was the devaluation of the national currency. In addition, the management of the companies called the lack of land and water on which the sugar beets are grown as a negative factor for the business development.
Both plants were built in Uzbekistan to supply the domestic market. Sugar prices traditionally rise during fruit ripening. Khorazm Shakar was originally a joint venture established with the involvement of Austrian and American capital.
The Angren Shakar plant, for the construction of which $ 83 million was allocated, could fully meet the needs of the population, according to the official authorities. Its investors were also companies from Singapore and Austria. Who will control the sugar business now, given the possible bankruptcy of both plants, is going to become clear in the nearest future.
The reason for the pant’s shutdown, as noted by the numerous analysts of the Central Asian market, was the fall in demand for the companies' products. The enterprises were on the verge of bankruptcy, and the suppliers stopped shipping raw materials. It turned out that the warehouses of both companies were overcrowded because the prices did not allow the companies to compete with the importers.
The workers of plants themselves blame the policy of the authorities for the current situation, which opened the borders for free import of cheap and not always high-quality sugar from foreign manufacturers, primarily importers from Russia.
In 2020, sugar was included in the list of goods that are not subject to customs duties and excise taxes by law. As a result, the market was full, and there was no one to buy the products of local enterprises.
Both plants were built not so long ago. The Khorezm Shakar plant, located in the Khazarasp district of the Khorezm region, was launched in 1998. It currently has 1,500 employees. The Angren Shakar plant has been operating since 2014 and is located in the Tashkent region. It has about 500 employees, as indicated on the company's website. It is not very clear what the management of the factories will do with the workers.
Both plants had already experienced the termination of activities at the end of 2017.
At that time, the majority of workers were sent on unpaid leave for several months. One of the reasons was the devaluation of the national currency. In addition, the management of the companies called the lack of land and water on which the sugar beets are grown as a negative factor for the business development.
Both plants were built in Uzbekistan to supply the domestic market. Sugar prices traditionally rise during fruit ripening. Khorazm Shakar was originally a joint venture established with the involvement of Austrian and American capital.
The plant is able to meet the demand for sugar of the domestic market of Uzbekistan by 60%.
The Angren Shakar plant, for the construction of which $ 83 million was allocated, could fully meet the needs of the population, according to the official authorities. Its investors were also companies from Singapore and Austria. Who will control the sugar business now, given the possible bankruptcy of both plants, is going to become clear in the nearest future.
17.07.2020
