The volume of imports of raw cane sugar to Ukraine will be 170 thousand tons

Published Apr 8, 2021

Tridge summary

Ukraine is set to import 170 thousand tons of raw cane sugar for the 2020/2021 marketing year due to a decrease in domestic sugar production caused by drought. The country's sugar production is expected to drop from 1.5 million tons to 1.1 million tons. Domestic sugar consumption is projected at 1.2 million tons, necessitating an additional sugar import volume of 110 thousand tons. The retail price of sugar is currently 24.5 UAH / kg, and the government is considering temporary zero import duty on white sugar. In 2021, Ukraine plans to sow nearly 230 thousand hectares of sugar beets, which is expected to satisfy the domestic market and potentially lead to sugar exports in the next marketing year.

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

Original content

The total import of raw cane sugar to Ukraine in the 2020/2021 marketing year will be 170 thousand tons. This was discussed at an open meeting of participants of the Ukrainian sugar industry, importers, food producers and representatives of the Ministry of Economic Development, Trade and Agriculture. The situation in the sugar market was discussed at the meeting. Taking into account last year's unfavorable weather conditions, in particular drought, 8.6 million tons of sugar beet were harvested in Ukraine, which led to a decrease in sugar production from 1.5 million tons last marketing year to 1.1 million tons in the current MR. As in the 2020/2021 marketing year, domestic sugar consumption is estimated at 1.2 million tons, and given the need to form transitional sugar balances at the end of the season at least 250 thousand tons, the projected volume of sugar imports should be 110 thousand tons. "Currently, the retail price is fixed at 24.5 UAH / kg. We understand the need to ...

Source: Landlord