27 January 2024
Astarta sugar output in the 2023/24 season was 377,000 tons, the highest since Y2017.
According to the company's announcement, in the 2023/24 sugar season, Astarta factories processed 2.7 million tons of sugar beets and produced 377,000 tons of sugar.
The volume of sugar production exceeded last year's figure by 95 thousand tons and became the highest value since 2017. The dynamics of sugar output by Astarta over the past few years is shown in the graph below:
It is interesting that of the total volume of processed sugar beet of 2.7 million tons, 2.2 million tons were grown by Astarta itself. In 2023, the company increased its sugar beet acreage compared to the previous year by 6,000 hectares to almost 39,000 hectares, and the beet yield (57.6 t/ha) became the highest in the company's history.
In our opinion, given that sugar beet in the current season is probably the most profitable crop for Ukrainian farmers in general, we can expect solid financial results for Astarta related to beet growing and sugar production.
Good news for the company's operational activities was also that in 2023, Astarta received the highest corn yield in its history at 10.35 t/ha (in 2022 - 9.0 t/ha). Sown areas and yields of Astarta's main crops in recent years are shown in the table below:
Season
2023/2024
2022/2023
2021/2022
2020/2021
2019/2020
2018/2019
Corn
Sown area, ha
19 100 38 000 59 000 60 580 66 780 63 470
Yield, t/ha
10.3 9.0 8.6 6.9 8.7 9.8
Soybeans
Sown area, ha
56 900 40 000 31 000 27 390 32 400 23 790
Yield, t/ha
3.1 2.9 3.0 2.3 2.5 2.9
Wheat
Sown area, ha
42 000 55 000 47 000 47 917 50 200 51 490
Yield, t/ha
5.7 4.8 5.8 4.8 5.1 4.7
Sunflower
Sown area, ha
28 200 30 000 28 000 40 450 31 040 40 350
Yield, t/ha
3.0 3.0 2.7 2.2 2.9 2.9
Sugar beet
Sown area, ha
38 900 33 000 33 000 34 500 35 255 39 435
Yield, t/ha
58 49 47 43 47 46
Total land, ha
220 000 220 000 220 000 220 000 230 000 235 000