Sugar prices in Ukraine will rise

Despite the fact that sugar was almost the only product that did not increase in price and even lost some value in the last month, the sugar market is currently seeing a price increase, the pace of which may accelerate in early 2025. The corresponding forecast was made by the analysts of the PUSK agricultural cooperative. As experts noted, sugar prices in Ukraine increased by an average of UAH 1-1.5/kg during the week. Currently, the price of sugar fluctuates between UAH 23-24.50/kg, and the main reasons for this increase are the stabilization of domestic demand and the beginning of the recovery of exports.

At the same time, domestic sugar producers are gradually returning to foreign markets. Turkey and African countries remain the main destinations. According to expectations, the situation should have been worse without exports to Europe. But currently the export scheme through third countries is working, and it is producing results. Ukraine gradually exports sugar to foreign markets, which supports its position. At the same time, a partial opening of the European market for Ukrainian sugar is planned next year, which may significantly affect price dynamics. Therefore, experts predict that in the second half of the season, a significant increase in the cost of products is possible.

And so far all five sugar factories are working in Vinnytsia alone. They processed 1.8 million tons of sugar raw material and produced 236,000 tons of sugar. At the same time, 2.5 million tons of sugar beets were collected from the fields with an average yield of 397.2 centners per hectare.

As previously reported, during the last months, Ukrainians have noticed an increase in food prices. Indeed, according to the State Statistics Service, inflation accelerated in October, and food prices rose even more than the overall consumer basket. Only in October, consumer prices in Ukraine increased by 1.8% compared to the previous month, and food prices by as much as 3.3%. This situation indicates that food products are becoming less and less available for Ukrainian families. According to available information, the prices of eggs (by 18.1%) and vegetables (by 18.2%) increased the most over the last month. The prices of sunflower oil, bread, pasta, meat, dairy products and cheeses also increased significantly. In fact, according to the results of ten months of the current year, consumer prices in Ukraine increased by 8.4%, and food prices - by 7.8%. This means that during this period the cost of food products increased by almost 8% on average.