By KYIV. Dec 4 (Interfax-Ukraine) – In 2024, Ukraine will expand the area under sugar beets by 10-20% and increase sugar production to 2 million tonnes per year, Roman Ohorodov, General Director of the Ukrprominvest-Agro group of companies, said at the 32nd International Seminar of the International Sugar Organization in London, the company’s press service reported on Facebook.
Ohorodov noted that Ukraine consistently has a surplus of sugar, which will grow next season. Currently, Ukraine already produces about 1.8 million tonnes of sugar with domestic consumption of 900,000 tonnes.
“Ukraine is actively exporting sugar to the EU, and this will continue next season in order to cover the deficit in the markets of some countries of the European Union. In addition, Ukrainian sugar is also interesting to the world market, where, according to experts, there will be an increase in the deficit balance of this product. Therefore even taking into account all the logistics and other difficulties caused by the war, the profitability of sugar production in Ukraine will have positive dynamics,” Ohorodov predicts.
According to Ukrproiminvest-Agro, the subject of special attention of the participants of the international seminar was the issue of sugar shortage in the world in the 2023-2024 marketing year, which is predicted for the next season.
According to international analysts, the high price of sugar in the European Union makes the sugar business attractive for agricultural producers, which will lead to an expansion of the area under sugar beets in Europe. However, the sugar deficit in the EU will still remain in 2024, it was noted at the seminar, Ukrprominvest-Agro concluded.
Ukrprominvest-Agro is engaged in the cultivation of crops, production of sugar, flour, meat and dairy farming. The group’s land bank exceeds 116,500 hectares and is located mainly in regions that have not been invaded by Russian occupiers.
