KYIV. Feb 7 (Interfax-Ukraine) – The Ukrtsukor national association of sugar producers forecasts that sugar exports from Ukraine in the 2016-2017 marketing year (September through August) may reach 500,000 tonnes, which will be 4.4 times up year-over-year.
“Ukrainian producers have already shipped 409,700 tonnes of sugar onto foreign markets in the 2016-2017 marketing year. Therefore, sugar exports are likely to exceed 500,000 tonnes this marketing year,” Ukrtsukor quoted head of its analytical department Ruslan Butylo as saying.
In January 2017 alone, Ukrainian producers exported 65,150 tonnes of sugar to the tune of $32.6 million, which was half of the amount reported in December 2016.
Large shipments were sent to Turkey (12,887 tonnes), Sri Lanka (12,900 tonnes), Myanmar (5,600 tonnes), Switzerland (4,300 tonnes), Israel (4,300 tonnes), and other countries.
Wholesale prices in January 2017 grew by 5.5% on the average and are now within UAH 14.10-14.50 per kg, Butylo said. This was caused mainly by an increase in prices on the international market, as sugar on the London Stock Exchange went up in price by almost 4% over the period under review. Cane sugar on the New York Mercantile Exchange climbed by 6%.
Ukrtsukor estimates demand on Ukraine’s domestic market in 2017 at about 1.54 million tonnes of sugar while 2 million tonnes of sugar has already been produced. Forty-two sugar refineries were in operation during the current season. They processed 13.66 million tonnes of sugar beets.
As was reported with reference to Ukrtsukor, Ukraine boosted sugar exports by almost 3%, to 113,000 tonnes in the 2015-2016 marketing year.
