Ukraine shipped 48,400 tons of sugar abroad in May, down by 33% MoM, according to the Ukrtsukor association of sugar producers.
“In May, sugar exports fell by almost half compared to April, as the world market prices were on the decline. We estimate that further supplies in the current marketing year will be insignificant,” the association’s press service quoted its chief analyst Ruslan Butylo as saying.
The largest batches of sugar in May were exported to Togo (15,000 tons), Turkey (8,800 tons) and Gambia (8,000 tons).
Since the beginning of the current 2016-2017 marketing year (September 2016 through August 2017), sugar exports have totaled 732,000 tons, the press service said.
Areas under sugar beets this year cover 310,000 hectares, up by 6% YoY. However, sugar production in 2017-2018 MY, according to the association’s forecasts, will remain at the previous year’s level and is projected at about 2 million tons, as unfavorable weather conditions in April-May had a negative impact on the sugar beet crops.
Accordingly, sugar exports in the next season may total about 500,000 tons, with the domestic demand being estimated at 1.5 million tons. (UNIAN/Business World Magazine)
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