Ukraine is approaching new records in sugar exports

In the first half of the 2023/24 season, Ukraine’s sugar exports amounted to 430 thousand tons, which is 60% higher than last year.

According to preliminary customs statistics, Ukrainian sugar exports in March 2024 amounted to 81 thousand tons, compared to 75 thousand tons in the previous month and 48 thousand tons in March 2023.

During the first half of the 2023/24 season, Ukrainian sugar exports amounted to 430 thousand tons, compared to 262 thousand tons in the corresponding period of the previous marketing year.

Taking into account the existing restrictions on the volume of Ukrainian sugar exports to Europe (we remind that in 2022 and 2023 almost all sugar exports from Ukraine were directed to the EU countries), Ukrainian exporters start shipping sugar to Africa and Asia (including through Ukrainian deep-water ports).

Given that in 2023 Ukraine produced about 1.8 million tons of sugar, with domestic consumption of 1 million tons, this season the country may exceed the figures of previous years and export 700-800 thousand tons. At the same time, the EU countries are ready to import no more than 300-400 thousand tons of Ukrainian sugar in 2024.

The main exporters of Ukrainian sugar are the three leading producers – Radekhiv-Sugar, Ukrprominvest-Agro and Astarta. The share of the top 3 in total exports can be estimated at 60-70%.

Tags: Ukraine, export, sugar