February 11, 2024
The export of sugar decreased slightly compared to previous months, Ukrainian companies are working on new export destinations.
According to preliminary data from customs statistics, Ukrainian sugar exports in January 2024 amounted to 56k tons, compared to the average of 73k tons during three previous months of MY2023/24.
During the first four months of the current season, exports amounted to 274k tons compared to 172k tons in the corresponding period of the previous marketing year.
In the calendar year 2023 alone, the export of sugar from Ukraine amounted to 506k tons with a total value of $390 million. The largest volume of sugar exports in Ukrainian history was in 2017-18, when almost 600k tons of the product was exported per year.
Taking into account that in 2023, Ukraine produced about 1.8 million tons of sugar, with domestic consumption at the level of 1 million tons, in the current season export can exceed previous record volumes.
On the other hand, after the start of the full-scale Russian invasion, Ukraine exports sugar practically only to EU countries, while according to available information, in 2024, exports from Ukraine to the EU will be limited to 320k tons.
Taking into account the still favorable price situation on the world market, Ukrainian producers and exporters will have to look for new sales markets, perhaps starting to export sugar through deep-sea Ukrainian ports (in 2017-18, Ukraine exported quite significant volumes of sugar to African and Asian countries).