Ukrainian enterprises produced more than 1.7 million tons of sugar during the season-2024

Ukrainian sugar producers have completed the 2024 season. As reported by the National Association of Sugar Producers of Ukraine, 28 member factories of the association produced a total of 1.72 million tons of sugar during the season. Taking into account that another sugar factory, which is not a member of the association, also produced sugar, the total production of sugar in Ukraine amounted to 1.8 million tons. In fact, the volume of sugar production in the 2024 season matches the figures of the previous year, 2023, when the country produced 1.826 million tons.

It should be noted that this year Ukrainian sugar producers received a new impetus for development. This happened due to the opening of the European market after an agreement was reached on trade liberalization. The decisions made allowed for the export of sugar to the European Union without additional tariffs. As noted by analysts of the All-Ukrainian Agrarian Council, the opening of the EU market opens new horizons for Ukrainian exporters, who had previously been forced to limit their supply volumes due to additional customs expenses. The first contracts are already being concluded. As a result, experts expect an increase in sugar exports to Europe as early as February-March. The wholesale price of sugar in Ukraine is currently holding at 23,000–24,500 UAH per ton. However, experts predict that seasonal price increases, along with the expansion of exports, could lead to a gradual rise in product prices in the near future. The period from January to May is usually accompanied by rising sugar prices. 

Overall, it is expected that in the coming months, the European direction of exports will become key for Ukrainian producers.