Ukrainian exporters have already used almost 100% of the sugar export potential that was built into the forecast balance for the 2022/2023 marketing year, so to avoid a shortage of this product in the summer and autumn period, the government has limited its exports for the period from June 5 to September 15, the press service of the Economy Ministry said.
“Consumption of sugar grows in Ukraine in summer, so to avoid a shortage and price rises on the domestic market during this period, the government temporarily stops export quotas for this product,” the ministry said on its website on Thursday.
According to the State Customs Service, at the end of last week Ukraine exported more than 350 thousand tons of sugar and sugar products, which amounts to 95% of the forecast exports for 2022/2023 marketing year (MY).
As noted in the Ministry of Economy, the supply of the domestic market in 2022/2023 MY, taking into account the production of 1285 thousand tons of sugar and transitional residues, according to expert estimates, is 1776 thousand tons. To meet the needs of the domestic market in 2022/2023 yr Ukraine needs 1010 thousand tons. Export of sugar during the same period is expected at the level of 370 thousand tons.
As reported, the Cabinet of Ministers at its meeting on May 30 adopted a decree banning the export of sugar for the period from June 5 to September 15 this year.
