Ukrainian Agrarian Council’s First Ukrainian Agricultural Cooperative report that sugar prices on the domestic market may increase due to the resumption of sugar exports from Ukraine to the European Union.
According to analysts, new trade liberalization agreements will give Ukrainian producers access to the EU market from January 1, 2025. It means that Ukraine will be able to export larger quantities of sugar to the European market without having to pay additional fees, which previously held back exports growth.
Analysts say that the opening of the EU market is an important event for our industry. Ukraine is only starting to conclude contracts on exports to Europe, but the pace of this work is expected to be picked up as soon as February-March. Ukrainian sugar has been actively exported to Turkey and African countries in January, but the European market is gradually becoming more important.
As analysts said, they sell sugar in Ukraine at a relatively stable price of UAH 23,000-24,500 per tonne, but seasonal factors and exports growth could make it gradually increase in the near future.
According to the analysts, there is a usual period of seasonal increase in sugar prices in January-May. The prices will obviously start to increase, as the current level of prices is one of the lowest. The dynamics will also be contributed by the opening of the European market.
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