Since the start of current season Ukrainian sugar export almost reached 700k tons

6 May 2017

According to customs statistics data in April 2017 Ukrainian sugar export made 72k tons. As a result, since the beginning of current season Ukrainian companies exported 684k tons of sugar for USD 338M.

Monthly Ukrainian sugar dynamics since the beginning of current season looks as follows:

Ukrainian sugar export dynamics April 2017

Export volume in April exceeded our earlier expectations, which have been based on significant decrease of sugar stocks in Ukraine due to very active export supplies in the first part of the season.

On our opinion export in April has been higher vs. our expectations as in the last reporting month Ukrainian companies mainly fulfilled contracts concluded earlier. Taking into account during last two months Ukrainian domestic sugar price exceeds export price, we expect significant decrease of export volumes in May. Moreover, one can hardly expect active export operations till the start of new production season in September-October.

As for general expectations regarding new season, according to Ukrtsukor association estimates, total sugar beets sown area in Ukraine is to make about 330-350k ha (vs. 284k ha in Y2016). Ukrainian sugar production in new season can be preliminary estimated at 2.3M tons (vs. slightly more than 2M tons in current season), though export potential will remain at the level of current season at about 700-750k tons (higher production volume will be offset by lower sugar stocks in the beginning of the season).

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