Ukrainian sugar producers are looking for new sales markets

Published 2024년 6월 3일

Tridge summary

Ukrainian sugar producers have exhausted their annual EU export quota in less than five months, leading to a proposal to halt exports to the EU until 2025. The government plans to introduce a zero quota for sugar exports to Europe from June 1, while other markets remain open. With an export potential of around 1 million tons and increased sugar beet sowing, Ukraine needs new buyers due to the EU restrictions. The National Association of Sugar Growers of Ukraine supports a zero quota for 2024 to meet EU trade obligations. Ukraine produced 1.8 million tons of sugar in 2023/24, with domestic needs at 1 million tons and a maximum export volume of 650,000 tons. Exporting to non-EU countries faces logistical challenges, and a global sugar surplus in 2024, driven by increased Brazilian production, is expected to lower prices. Ukrainian exporters must develop innovative logistics routes and focus on profitability and product quality to succeed.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In less than 5 months, Ukrainian sugar producers have already exhausted the annual quota for sugar deliveries to the EU. Ukrtsukor proposes to stop exports to the EU until 2025, and the government is introducing a zero quota for sugar exports to Europe from June 1, although other markets are open for exports. This is reported by GrainTrade analysts. It is noted that the export potential, however, is approximately 1 million tons, so it is necessary to look for new buyers, especially since farmers have significantly increased the area of sugar beet sowing. In the current year, Ukraine delivered 283,000 tons of sugar to the EU against a quota of 262,000 tons. As a result of exceeding the quota, the National Association of Sugar Growers of Ukraine called on the Cabinet of Ministers to set a zero quota for 2024 so that the country fulfills its obligations under the trade agreement with the EU . "Ukraine did not enter the European sugar market very well - the uncoordinated work of ...

Source: Agrobusiness