News
06.07.2012
Not a single percent of raw sugar import quota used - economic development ministry
Ukraine has not used a single percent of the 267.8 thousand ton quota for the import of raw sugar. The main reason for this, according to experts, is the low level of sugar prices in this country. This is also confirmed by the volumes of foreign trade. At the beginning of June, Ukraine imported just 400 tons of sugar, while exports reached almost 90 thousand tons, the press service of the Ministry of Economic Development and Trade of Ukraine reported.
"Having harvested 18 million tons of sugar beet and having produced of it 2.3 million tons of sugar, we've got a significant excess of sugar. With an annual consumption of sugar at 1.8 million tons, the residues predicted for the end of 2011/12 MY (August 31) will reach 0.5 million tons. This state of affairs reduced the prices of sugar by 40% for the year, which does not encourage active imports," experts comment.
Last year, 231 thousand tons of raw sugar was imported under the quota; the same amount was imported in 2010.
