Economy 2022-07-15T07:47:22+03:00
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Ukrsugar Forecasting Procurement Prices For Sugar To Grow By 5-10% Before March

Ukrsugar Forecasting Procurement Prices For Sugar To Grow By 5-10% Before March

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The Ukrsugar national sugar producers association forecasts the procurement prices for sugar to grow by 5-10% before March.

Head of the Analytical Department of the association Ruslana Butylko said in an interview for the Ukrainian News.

Butylko noted that the international sugar prices were influenced by multiple internal factors in major sugar producing countries, such as India and Brazil, as well as oil prices.

She predicted that after the completion of sugar refining, wholesale prices for sugar would grow by approximately 5-7%.

Butylko also said that the current prices for sugar in the domestic market were below the levels of the previous year, which she attributed to the fall in the world sugar prices to compare with 2016, while Ukraine accumulated large sugar volumes in its domestic market.

As Ukrainian News Agency earlier reported, according to the data from the State Statistics Service, in the period of November 10 - December 11, 2017, the weighted average price for sugar dropped by 4.7% or UAH 0.63 to UAH 12.78 per kilo.

As at early 2017 (January 10), the weighted average price for sugar was at the level of UAH 14.92 per kilo.

In late 2017, after the start of the sugar refining process (September 2017 - August 2018) in the 2017-2018 marketing year, the Ukrsugar association forecast sugar production at 2 million tons - the levels of the previous year, while estimating the domestic consumption at 1.5 million tons per annum.

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