Sugar exports from Ukraine have now reached one of the highest volumes in history, despite a near-four month export ban with the exception of shipments to Romania, Ukrainian news outlet Share UA Potential reports, citing customs statistics.
In September, Ukrainian companies exported 25,000 tons of sugar. Since the beginning of the season (October 2022), the export of this product has reached 427,000 tons.
The publication considers the main reasons for the increase in exports to be high sugar balances at the beginning of the 2022/23 season, high global sugar prices throughout the season, as well as a ban on sugar exports from June 5 to September 15, inclusive, due to the government's fears of a shortage of the product.
Sugar export figures in Ukraine were higher only in 2016-2018 at 465,000, 599,000 and 585,000 tons per year, respectively.
In 2023, Ukrainian farmers significantly increased the acreage of sugar beet: up to 250,000 hectares against 184,000 hectares last year.
As of mid-October, beet harvesting is in full swing, with beet harvested from an area of 96,000 hectares (39% of the plan) with an average yield of 47.7 tons/ha.
"It can be expected that the total harvest of beets in Ukraine in 2023 will be about 11.8-12 million tons, which will be the highest value since 2018, with sugar production at 1.6 million tons," the publication predicts.
In total, Ukraine can export about 600,000-650,000 tons of sugar in the new season.
In the spring of 2023, global sugar prices rose to an 11-year high due to reduced exports from key supplier India, as well as Pakistan and Thailand.