Currency
Ukraine has reached the historical maximum of sugar sales abroad. Source: Freepik
Despite Russia's full-scale aggression, Ukraine continues to sell its products abroad, with exports of some products even exceeding pre-war levels. In particular, in May, producers sold 108 thousand tons of sugar to other countries, which was a new historical record.
This was reported by the national association of sugar producers Ukrtsukor at the Grain Ukraine 2024 conference by the acting chairman of the board of the organization Yana Kavushevska. She noted that last month, 65% of Ukrainian sugar was sold to the European Union, and 35% to other countries.
Given this intensity of exports, Ukraine has reached the maximum volume of sugar exports stipulated by the EU – 262 thousand tons. In order to avoid exceeding the quota, the government has completely stopped exporting this product to the EU until the end of 2024. At the same time, the Cabinet of Ministers assures that there is enough sugar for domestic consumption, so Ukrainians should not expect either a shortage of the product or a rise in prices.
"On May 30, the government imposed restrictions on the export of Ukrainian sugar to the EU, but I am pleased that our producers have restored the routes not only to Europe but also to the world market (to the Mediterranean and West Africa)," said Yana Kavushevska.
She emphasized that the last season was not bad for sugar beet, and therefore this crop will remain in the top 3 in terms of profitability. Moreover, sugar beet can become an alternative to grain, which is traditionally considered the most profitable crop for export.
Earlier, the Ukrainian Agribusiness Club expressed concerns that due to restrictions on duties and quotas, producers may be limited in their access to European markets. High duties on exports to Europe will make it uneconomical to export value-added goods. A particularly high rate is proposed for sugar.
OBOZ.UA also reported that in 2023, sales of Ukrainian ice cream abroad reached a record high. Most of this Ukrainian product was exported to Moldova and various EU countries.
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