Ukraine’s sugar producers have completed the 2024 production season, the press service of the National Association of Sugar Producers of Ukraine (Ukrtsukor) reported on its Facebook page.
According to the press service, 28 member plants of the association produced 1.724 million tons of sugar. In addition, in the 2024-2025 production year, another sugar plant that is not a member of the association also operated in Ukraine. According to the industry association, the total sugar production in the country amounted to 1.8 million tons.
“Thus, the volume of production in 2024 is actually equal to the figures of 2023, when the country produced 1.826 million tons,” Ukrtsukr summarized.
As reported by Interfax-Ukraine, citing data from the Ukrtsukor association, 37 sugar factories operated in Ukraine in 2023. One plant in the Kharkiv region, located in the de-occupied territory, was not ready to enter the processing season, as farmers in the region had not sown sugar beets.
Astarta, the largest sugar producer in Ukraine, has completed the processing season of 2024, which lasted 133 days and was marked by a number of records, the company’s press service reports on its Facebook page.
“Astarta’s five sugar factories produced 380 thousand tons of sugar, which is the highest figure in the holding over the past seven years. In total, the companies processed more than 2.5 million tons of sugar beet grown on the fields of the agro-industrial holding and by our partners, agricultural producers,” the statement said.
Despite the difficulties with the quality of raw materials caused by abnormal weather conditions, the holding’s sugar yield was 14.96% (the average value in Ukraine was 14.06% as of January 01, 2025). According to the National Association of Sugar Producers of Ukraine, this is the best industry indicator in the 2024 processing season.
“An important event of the season was the commissioning of a new sugar storage silo with a capacity of 60 thousand tons. This will significantly improve the quality of sugar storage and optimize logistics,” Astarta added.
“Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine. It comprises six sugar factories, agricultural enterprises with a land bank of 220 thousand hectares and dairy farms with 22 thousand cattle, an oil extraction plant in Globyno (Poltava region), seven elevators and a biogas complex.
In 2023, the agricultural holding reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, while revenue increased by 21.3% to EUR 618.93 million.
In 2024, Ukrainian sugar producers set a historical record for sugar exports, exporting 746.3 thousand tons of the product to foreign markets for $419 million, the National Association of Sugar Producers of Ukraine (Ukrtsukor) reported.
“This is the highest figure for sugar exports within a calendar year according to statistics dating back to 1997, when the National Association of Sugar Producers of Ukraine was established,” the industry association said.
Ukrtsukr added that 40% of exports in 2024 were directed to the European Union, 60% were supplies to the world market, where the main buyers of Ukrainian sugar were MENA (Middle East and North Africa) and North Macedonia.
Since the beginning of the 2024/25 season, sugar factories-members of the National Association of Sugar Producers Ukrtsukor have produced 1.165 million tons of sugar as of November 21, the association’s press service reports.
“Ukrainian sugar factories have already accepted 9 million tons of sugar beet for processing, from which they produced 1.165 million tons of sugar, which is almost equal to the same date last year,” the statement said.
The industry association noted that in the season 2024/2025 MY sugar beet processing in Ukraine is carried out by 29 sugar factories, 28 of which are members of the association.
At the same time, Ukraine has almost completed the harvesting of sugar beet, which was harvested in the amount of 11.9 million tons from an area of 251.2 thousand hectares with an average yield of 47.6 tons per hectare.
As reported by Interfax-Ukraine, citing data from the Ukrtsukor association, 37 sugar factories operated in Ukraine in 2023. One plant in Kharkiv region, which is located in the de-occupied territory, was not ready to enter the processing season, as farmers in the region did not sow sugar beets.
In the third quarter of 2024, Astarta Agro Holding sold 77.87 thousand tons of sugar, which is 6% less than in the same period a year earlier, and in January-September, sugar sales increased by 43% to 289.32 thousand tons.
According to the company’s announcement on the Warsaw Stock Exchange, the average sugar price in the third quarter decreased by 10% compared to the same period last year and by 10% over the first nine months.
In the third quarter, Astarta’s wheat sales increased by 475% to 128.8 thousand tons, up from 22.41 thousand tons a year earlier. Over the nine months, corn sales increased by 202% to 209.15 thousand tons. The average price of wheat in the third quarter was up 44% year-on-year and 37% over the first nine months of the year.
At the same time, corn sales volumes decreased by 95% to 1,787 thsd tonnes, while its selling price fell by 22%. Over the first nine months, corn sales increased by 7% to 339.72 thousand tons, while prices were 8% lower than last year.
“Astarta increased its sales of sunflower seeds by 112% to 7.063 thousand tons, while its selling price increased by 62%. In the first nine months of the year, sunflower sales decreased by 57% to 27.129 thsd tonnes, while prices were 5% higher than last year.
Sales of rapeseed in the third quarter increased by 196% to 34.91 thsd tonnes, while prices increased by 55%. Sales volumes for the first nine months of 2024 increased by 272% year-on-year to 55.231 thsd tonnes, and prices were 32% higher.
Sales volumes of soybean oil in the second quarter decreased by -13% to 8.217 thsd tonnes, while prices were 19% higher. The agricultural holding increased its sales volumes by 11% in the first nine months of 2024 compared to the same period last year – up to 35,359 thousand tons, but prices were 7% lower on average.
In addition, in the third quarter, Astarta reduced sales of soybean flour by 1% to 29,313 thousand tons, while prices were 4% lower than last year. In the first nine months of 2024, prices were 6% lower compared to the same period last year.
The agricultural holding’s sales of milk in the third quarter increased by 1% to 25.878 thousand tons, while the price of the products increased by 32%. Sales volumes for the first nine months of 2024 increased by 4% to 85.891 thousand tons, prices – by 24%.
In 2023, Astarta Agro Holding, the largest sugar producer in Ukraine, reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, while revenue increased by 21.3% to EUR 618.93 million.
Domestic prices for Ukrainian sugar continue to fall due to trade restrictions imposed by the European Union, and wholesale prices from factories may drop to 18-19 UAH/kg, according to the analytical cooperative “Pusk”, created within the framework of the All-Ukrainian Agrarian Council (AAC).
“Ukrainian sugar remains mostly on the domestic market due to limited exports. Attempts to supply products to Turkey, Macedonia and other countries have not yet allowed to significantly unload stocks. Due to trade restrictions with the EU, which will last until 2025, Ukraine is facing difficulties in exporting sugar,” the analysts explained and added that this trend is likely to continue in the coming months.
According to experts, some factories in Ukraine have already started to reduce prices from the previous 21.50-22 UAH/kg to 21 UAH/kg. They expect that in September-October, prices may fall to 18-19 UAH/kg due to the oversaturation of the domestic market.
At the same time, the global sugar market shows a significant increase in prices due to a number of factors.
“Among the key reasons is a significant drought in Brazil, which has seriously affected sugar cane yields. The situation was further aggravated by large-scale fires that damaged 5 to 8% of the acreage. This has led to a significant increase in the cost of sugar on world markets,” Pusk stated.
