Ukraine exported more than 500 thousand tons of sugar in 2023

According to preliminary customs statistics, Ukrainian sugar exports in December 2023 amounted to 69 thousand tons, compared to 73 thousand tons in the previous month and 76 thousand tons in October (which was the highest value in one calendar month in recent years).

In the first three months of the new season, exports amounted to 218 thsd tonnes, compared to 139 thsd tonnes in the same period of the previous marketing year.

It is worth reminding that according to the management of Astarta, one of the largest Ukrainian sugar producers and exporters, Ukraine is capable of exporting 70-100 thousand tons of sugar per month in terms of available logistics capacities, so the current figures are close to these expectations.

In total, in calendar year 2023, Ukraine exported 506 thousand tons of sugar with a total value of $390 million. For comparison, in 2022, 181 thousand tons were exported for $139 million, so in 2023, export volumes almost tripled.

The largest volumes of sugar exports in Ukrainian history were in 2017-18, in each of which almost 600 thousand tons of the product were exported. Therefore, the sugar exports in 2023 are the third largest in history (our review of the Ukrainian sugar market can be found here).

The main destination of Ukrainian exports is the European Union market, while the main exporters are the largest sugar producers in Ukraine – Radekhiv-Sugar, Ukrprominvest-Agro and Astarta.

In the first half of the current season, sugar beet is by far the most profitable crop for Ukrainian farmers, and in 2023, the sugar beet acreage in Ukraine increased significantly to almost 250 thousand hectares (184 thousand hectares a year ago).

The expected sugar production in 2023 is 1.7-1.8 million tons, with current consumption at 1 million tons, so we can expect that in the coming months, in the absence of restrictions from European countries, Ukrainian sugar exports will remain active.

Tags: Ukraine, export, sugar