Sugar trading section
Sugar trading parties:
- Sugar sellers – sugar producers, including:
Domestic sugar importers, sugar importers, foreign legal entities selling sugar on the territory of the Republic of Kazakhstan;
Business entities, which are purchasing sugar from producers through contracted working capital or loans.
In the case of sugar sales through contracted working capital or loans and (or) under agreements within the framework of mechanisms for stabilizing prices for socially important food products, Sugar producers ensure its sale outside commodity exchanges.
2. Sugar buyers – business entities that purchase sugar for their own needs and (or) carry out further sale of sugar within the territory of the Republic of Kazakhstan.
In order to gain access to exchange trading in sugar, buyers and sellers of sugar should send to the authorized body a notice of the start of biddings in any form accompanied by documents confirming their status on the sugar market.
The list of buyers and sellers of sugar is being published on the official Internet resource of the authorized body.
Trading session time: from 11.00 to 12.00 (GMT +5)
Auction type – Double auction
Collateral – 5% of the proposed transaction amount should be deposited into the account of the clearing center. The funds are repayable after the fulfillment of obligations under the transaction.
Trading schedule – auctions are held monthly within 5 working days with delivery 30 calendar days after the auction.
Terms of delivery – EXW (from the seller’s warehouse) and FCA shipping station (Free Carrier)
Lot size – 60 tons (one carriage standards)
Price range during trading – The maximum price during one trading session should not exceed 101% of the base price
Base price:
- at the first exchange auctions at the level of the arithmetic mean value of quotations of wholesale sugar prices on the basis of the supply of the corresponding manufacturer, established at the end of the previous month according to prices on the domestic market of the Republic of Kazakhstan;
- during subsequent main trading sessions – at the level of the weighted average price formed during the previous trading session for the corresponding trading instruments.
The base price in the cases provided in subparagraphs 1) and 2) of this paragraph, is pre-agreed by organizer of sugar trading with the authorized body.
In cases of sugar sales through contracted working capital or loans and (or) under agreements within the framework of mechanisms for stabilizing prices for socially important food products, the seller ensures registration of an OTC transaction on a commodity exchange.
If the seller fails to fulfill the obligations provided in Part 1 of this paragraph and Paragraph 1 of Chapter 14 of Approved Rules, the commodity exchange refuses to accept the seller’s application for the sale of exchange goods for the previous month, of which the authorized body is officially notified.
Terms of payment: on the terms of 100% prepayment
To participate in the auctions for the purchase of sugar, the Buyer must sign an agreement with a broker accredited at the CCX, as well as sign an agreement for clearing services with Kazenergy Consult LLP.
If you participate as a dealer (without broker services), you must be accredited at the CCX.
For all additional questions, please contact the following contacts:
Khvorov Pavel – +7 702 479 0337
