In 2023, the countries of the EAEU may increase the sowing of sugar beet

Published Mar 27, 2023

Tridge summary

The Eurasian Economic Union (EAEU) countries are projected to see a 4% increase in sugar production in 2023, reaching 8.1 million tons, as reported by the Eurasian Sugar Association and the Union of Sugar Producers of Russia. This growth is primarily due to an expansion in sugar beet cultivation, extending to 1.43 million hectares, up from 1.36 million in 2022. The region is expected to experience a decrease in white sugar imports, by 140 thousand tons, and raw sugar imports, by 116 thousand tons. The success of this production increase depends heavily on favorable weather conditions. Major agricultural companies like Progress Agro are increasing their sugar beet cultivation areas, and sowing has already begun in the Krasnodar Territory, marking a record early start for the season.

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

Original content

Sugar production will also increase, experts say According to the Eurasian Sugar Association, in 2023 the EAEU countries can produce 8.1 million tons of sugar, which is 4% more than in 2022 (7.8 million tons). This was reported in the press service of the Union of Sugar Producers of Russia (Soyuzrossakhar). They noted that the growth in sugar production can be achieved primarily through the expansion of sugar beet crops to 1.43 million hectares against 1.36 million hectares in 2022. At the same time, imports of white sugar this year will decrease to 300 thousand tons from 440 thousand tons a year earlier, raw sugar - to 1.45 million tons from 1.56 million tons. According to the leading expert of the Institute for Agricultural Market Studies (IKAR) Yevgeny Ivanov, the farmers have no difficulties with the purchase of sugar beet seeds - they managed to pay and receive everything. He specified that almost all EAEU farms are planning to expand the area under sugar beets. “These will ...

Source: Specagro