There is a stable surplus of sugar in Ukraine, but its production remains profitable
Market & Price Trends
Published Dec 5, 2023
The General Director of "Ukrprominvest-Agro" predicts that there will continue to be a surplus of sugar in Ukraine, with production expected to increase to 2 million tons per year by 2024. The country is currently exporting sugar to the EU to cover deficits in some countries, and the global demand for Ukrainian sugar is expected to rise. Despite logistical challenges caused by the war, the profitability of sugar production in Ukraine is expected to have positive growth.
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General Director of "Ukrprominvest-Agro" Roman Ogorodov stated that there is a stable surplus of sugar in Ukraine, which will grow in the next season. This is stated in the press service of the company. According to some estimates, in 2024, the acreage under sugar beet in Ukraine will increase by 10-20%, and the production of sugar will increase to 2 million tons per year. Currently, about 1.8 million tons of sugar are produced in Ukraine, and domestic consumption is 900,000 tons. "Ukraine is actively exporting sugar to the EU, and this will continue in the next season to cover the deficit on the markets of some European Union countries. In addition, Ukrainian sugar is interesting for the world market, where, according to experts' ...