7 June 2023

Ukrainian sugar exports in May 2023 amounted to 70,000 tons, which is a record for recent years.

According to preliminary data of the Ministry of Agricultural Policy, the export of sugar in May 2023 amounted to 70,000 tons with a total value of $56 million.

This indicator is the highest value of sugar exports during one month in recent years.

The main importer of Ukrainian sugar in the reporting month is Romania (24,000 tons or 35% of the total volume), which is ahead of other European countries by a large margin (the lion's share of Ukrainian sugar exports is sent to EU countries, which cancelled import duties on Ukrainian sugar after the start of the full-scale Russian invasion of Ukraine).

The average export price remains almost unchanged compared to previous months, in May it was $794 per 1 ton.

This level of prices is very attractive for Ukrainian producers. It is proved by active exports on the one hand, and on the other hand by the expansion of sugar beet acreage in Ukraine (in 2023 it made about 220,000 hectares compared to 181,000 ha in 2022).

Since the beginning of the 2022/23 season (October 2022), Ukraine has already exported almost 380,000 tons of sugar.

Active exports during the current season led to a decrease in sugar stocks in Ukraine, which threatened a significant increase in domestic prices closer to the end of the season.

In response to this situation, the Ukrainian government decided to ban the export of sugar from Ukraine, starting from June 5 and ending on September 15 (actually, until the end of the season).

The largest producers and exporters of sugar in Ukraine are Astarta, Ukrprominvest-Agro and Radehiv-Sukor.

Our recent review of the Ukrainian sugar market is available here.