In the first half of August, Ukraine exported 3,000-4,000 tons of sugar, while two months ago this indicator reached 100,000 tons, analysts from the All-Ukrainian Agrarian Council reported.
“The Ukrainian sugar market is facing difficulties, as we are now completely focused on domestic consumer demand,” experts say.
For the rest of the year, sugar reserves in Ukraine will increase due to decreased exports and increased domestic production. Unable to export sugar to the EU, Ukrainian producers must look for new sales markets. In the new season, Europe is expected to increase sugar production, making it difficult to sell Ukrainian products on the international market.
“We will not be able to transport sugar to the EU until January 2025. Ukraine will either pay high export duties, which will hurt the selling price, or wait for quotas to be reset,” analysts said.
A significant decrease in sugar prices has been observed in Ukraine, which will continue.