The USDA forecasts sugar production in Ukraine at the level of 1.5 million tons

Published 2023년 6월 8일

Tridge summary

The US Department of Agriculture (USDA) has forecasted a 13% increase in Ukraine's sugar production for the 2023/24 marketing season, reaching 1.5 million tons. This growth is primarily due to a 21% expansion in sugar beet acreage, now expected to cover 220,000 hectares, and an anticipated rise in sugar beet production to 10.3 million tons. As the industry recovers from losses due to the Russian invasion, ending sugar stocks are projected to grow threefold to 313,000 tons. Despite logistical challenges, the European Union is expected to remain the primary market for Ukrainian sugar exports, which are forecasted at 250,000 tonnes. Potential global price surges could further boost Ukrainian exports to compensate for the losses in domestic consumption.

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Original content

Sugar production in Ukraine in 2023/24 MR is forecast at the level of 1.5 million tons, which is 13% more than in the previous season. Such a forecast was made by analysts of the US Department of Agriculture (USDA). The increase will be due to the growth of sugar beet acreage, which will increase this year by 21% to 220,000 hectares. The volume of sugar beet production in 2023/24 MR is expected at the level of 10.3 million tons, which is 13% more compared to the current season (9.1 million tons). According to USDA analysts, ending sugar stocks in FY 2023/24 will grow 2.6 times to 313,000 tons as the industry returns to stockpiling. According to USDA estimates, the EU will remain the largest sales market for Ukrainian sugar due to the impossibility of shipping it from Ukrainian seaports to other ...

Source: Agroconf