Ukraine: Sugar Annual

  |   Attaché Report (GAIN)   |   UP2024-0010
MY2024/25 sugar production is forecast at 1.8 MMT, similar to FAS/Kyiv's previous MY estimate. Sugar beet production area will remain steady across MY2023/24 and MY2024/25, which could be an indicator that the sugar industry is adjusting to a “new normal.” Sugar exports are growing, fueled by a combination of decreased domestic consumption, increasing prices on foreign markets, and large domestic stocks. The European Union (EU) became the major market for Ukrainian sugar in MY2022/23 and is expected to remain in this role in MY2023/24. The EU extended its suspension of import duties and quotas on Ukrainian exports until June 2025, while introducing an emergency brake mechanism for several sensitive products, including sugar.

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