17 Jan 2024 18:23

Ukraine to expand sowing of sugar beets 10%-20% in 2024 - media

MOSCOW. Jan 17 (Interfax) - Ukraine could expand the area sown with sugar beets by 10%-20% in 2024 and increase sugar production to two million tonnes [growth of 11% year-on-year], Ukrainian media reported, citing a statement on the official website of the Verkhovna Rada.

"According to some expert estimates, the area sown with sugar beets should increase by 10%-20%, and sugar production should rise to two million tonnes for the year. Currently, about 1.8 million tonnes of sugar has already been produced in Ukraine, and domestic consumption is 900,000 tonnes," the parliamentary committee on agrarian and land policy said in the statement.

The committee said that Ukraine was actively exporting sugar to the European Union and would continue to do so next season despite the difficult conditions "in order to offset shortages in the markets of several EU countries."

Moreover, the parliamentarians said that Ukrainian sugar was also of interest on the global market, "where, according to experts, there will likely be a rise in the shortage balance of the product."

According to the statement, the sugar production season has ended in the Vinnitsa Region. Production volumes are the highest in five years, with five plants overall producing 442,000 tonnes, growth of 23% compared to last season, and processing more than 3.1 million tonnes of sugar beets, a rise of 28%.

The profitability of sugar production in the country is showing positive dynamics, the committee said.