The resumption of sugar exports from Ukraine to the European Union may lead to an increase in sugar prices on the domestic market, Ukrainian media said, citing the Ukrainian Agrarian Council’s First Ukrainian Agricultural Cooperative as saying.
From January 1, 2025, Ukrainian producers gained access to the EU market as a result of new trade liberalization agreements, analysts said. This step has enabled Ukraine to export larger quantities of sugar to the European market without having to pay additional fees, which previously held back exports growth.
“The opening of the EU market is an important event for our industry. Now we are only starting to conclude contracts on exports to Europe, but we expect this work to pick up the pace as soon as February-March. Ukraine has actively been exporting sugar to Turkey and African countries in January, but the European market is gradually becoming a priority,” they said.
In Ukraine, sugar is sold at UAH 23,000-24,500 per tonne, the analysts said. These prices are relatively stable, but seasonal factors and exports growth could cause them to gradually go up in the near future.
“January-May is usually a period of seasonal increases in sugar prices. Obviously, the current level of prices is one of the lowest, and the prices will then start to grow. The opening of the European market will contribute to this dynamics as well,” the analysts said.
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