Information for fruit and vegetables business in CIS
Ukraine will produce 1.6 mln t of sugar this season - VPM for agriculture
Ukraine's Deputy Prime Minister for Agriculture Ivan Kyrylenko told a news conference September 9 that production of sugar in this season [from domestically grown sugar beet] would constitute 1.6 million tonnes.
He said that till the end of this calendar year the market of sugar might become over-saturated. If the 360,000 tonnes, which are going to be produced from import cane-origin raw, are added to the above production, the wholesale prices might drop considerably, he said.
He said that up to the moment sugar in separate cases had been offered at prices below 2,000 hryvnias per tonne, while the mandatory minimal price is 2,370 hryvnias per tonne (5.33 hryvnias = $1).
"In order that not to lose motivation in this important branch of farm industry, the government suggests purchasing into the State Reserve during September and October about 100,000 tonnes of sugar", Kyrylenko said.
He said that the corresponding draft law and amendments into legislation had already been prepared.