Despite the fact that this year's sugar beet harvest is larger than last year, sugar may rise in price on store shelves.
As the adviser to the director for the agro-industrial complex of the wholesale market of agricultural products "Shuvar" explained in a comment to "Espresso.West", it will be profitable for Ukrainian producers to export a significant part of sugar.
"The problem is that there is a shortage of sugar on the world market. India, which is one of the largest suppliers of sugar, has restricted exports, so the price on the world market is rising. These are favorable conditions for increasing sugar exports from Ukraine, so this will affect the domestic price in Ukraine," he explained.
According to the expert, almost 35% more sugar beet was sown in Ukraine this year than last year. Estimates show that about 1.6 million tons of sugar will be produced from the new crop, and domestic consumption is estimated at about a million tons.
Under such conditions, producers will seek to increase sugar exports if there are no restrictions from both Ukraine and the EU countries. For example, from June 5 to September 15 this year, the government first banned the export of sugar from Ukraine, and then allowed, but not more than 20 thousand tons.
To recap, prices for vegetables and fruits have decreased in Ukraine. The reason for this was the annual inflation rate, which slowed down from 11.3% to 8.6%.