USDA forecasts sugar production in Ukraine at 1.5 million tons
Sugar production in Ukraine in 2023/24 MY is forecasted at 1.5 million tons, which is 13% more than in the previous season. This forecast was made by analysts of the US Department of Agriculture (USDA).
The increase will be due to the growth of sugar beet acreage, which will increase by 21% this year to 220 thousand hectares.
The volume of sugar beet production in 2023/24 MY is expected to reach 10.3 mln tonnes, up 13% compared to the current season (9.1 mln tonnes).
According to the USDA analysts, the ending stocks of sugar in 2023/24 MY will increase by 2.6 times to 313 thsd tonnes, as the industry will return to stockpiling.
According to USDA estimates, the EU will remain the largest market for Ukrainian sugar due to the inability to ship it from Ukrainian seaports to other destinations.
Ukraine’s sugar exports are projected at 250 thousand tons, but rising world prices may stimulate Ukrainian exports in 2023/24 MY to compensate for the losses caused by the full-scale invasion of Russia and falling domestic consumption.
Tags: Ukraine, sugar, crop forecast
Read also
AmSpec – Sponsor of the 21st International Conference BLACK SEA GRAIN. KYIV
Pasta makers cheer Turkiye as its durum wheat flows abroad
Israel: Winter showers boost wheat crop, but water worries continue to stalk farmers
Soybeans down ahead of USDA reports. Thursday, March 28, 2024
Saudi Arabia issues tender to buy 595,000 metric tons of wheat
Write to us
Our manager will contact you soon