The Ukrainian sugar market is seeing a rise in prices, the pace of which may accelerate in early 2025.
Sugar prices have increased by an average of 1-1.5 UAH/kg over the week. Now its cost fluctuates within the range of 23-24.50 UAH/kg.
This was reported by the All-Ukrainian Agrarian Council (AUC).
The main reasons for this rise are the stabilization of domestic demand and the beginning of the resumption of exports.
In particular, Ukrainian sugar producers are gradually returning to foreign markets. Turkey and Africa remain the main destinations.
“The situation is expected to be worse for producers without exports to Europe. But now the export scheme through third countries is working, and it is yielding results. Ukraine is gradually exporting sugar to supporting foreign markets,” analysts note.
From 2025, a partial opening of the European market for Ukrainian sugar is planned, which may also significantly affect the price dynamics upward.
Experts predict that a significant increase in the cost of products is possible in the second half of the season.
In addition, the situation on the global sugar market may also affect prices in Ukraine.
“Certain problems are being recorded in Brazil, and this may affect the reduction in sugar production volumes. Due to this, an increase in the cost of sugar on the global market is possible in the second half of the season,” analysts clarified.
In turn, Ukrainian producers can take advantage of this situation to expand their presence in the international market and increase competitiveness.
Earlier It was reported that food prices in Ukraine will go up in November. Read more about this in news.