The European market will be moderately attractive for Ukrainian sugar

Published 2024년 10월 31일

Tridge summary

The European market is becoming increasingly attractive for Ukrainian sugar, with prices potentially equalizing due to shared logistics costs, according to Oleksandr Korotynskyi, director of the NPC 'Sugar Beet Production'. Despite an increase in sugar beet sowing areas in EU countries, leading to higher sugar production volumes, the market is expected to remain in a slight deficit. However, EU countries have commitments to other countries like Mauritius, Eswatini, and Guatemala, which together account for 5-6% of their sugar imports, which may impact sugar availability in the European market.

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Original content

The European market will already be moderately attractive for Ukrainian sugar. Taking into account the additional logistics costs, it is not excluded that the prices of sugar in Europe and in Ukraine will become equal. Oleksandr Korotynskyi, director of the NPC "Sugar Beet Production", a member of the Agricultural Industry Committee at the Chamber of Commerce and Industry of Ukraine, reported this in an article for The Ukrainian Farmer magazine. "Recently, we can observe that sugar prices in the EU are higher than in Ukraine. But it was not always like that. In 2017-18, European prices were at the level of domestic prices in Ukraine, namely 400 euros," noted the expert. Oleksandr Korotynskyi also drew attention to the fact that the number of areas sown under sugar beet has increased in EU countries this year, and the volumes will increase accordingly. sugar production. "Despite this, the European ...

Source: Agrotimes