15 June 2017
According to customs statistics data in May 2017 Ukrainian sugar export made 48k tons. As a result, since the beginning of current season Ukrainian companies exported 732k tons of sugar for USD 361M.
Monthly Ukrainian sugar dynamics since the beginning of current season looks as follows:
In line with our expectations Ukrainian sugar export volumes in May have been significantly lower vs. previous months. On our opinion significant portion of May’s export was related to contracts concluded in previous months (taking into account considerable global sugar price decrease during last months, at the moment Ukrainian domestic sugar price is much higher vs. international price).
As for new season expectations, according to estimations of Ukrtsukor analysts, total sugar beets sown area in Ukraine in Y2017 made 310k ha (vs. 284k ha in previous year). Total sugar production can be preliminary estimated at 2M tons, at close to Y2016 level, we can expect certain decrease of sugar beet yields vs. current season. As a result we can estimate sugar export potential for new season at about 600k tons.
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