Africa receives 20% of Ukrainian sugar exports in March
Ukraine has significantly increased sugar exports to Cameroon, Libya, and Guinea; in March, 8,000 tonnes, or 20% of total Ukrainian sugar exports, arrived in Africa.
Source: press service of the Ukrainian Ministry of Agrarian Policy with reference to the words of the Taras Vysotskyi, First Deputy Minister of the Ministry of Agrarian Policy and Food of Ukraine
Quote: "Ukraine is actively developing a new direction for sugar exports. In March, almost 8,000 tonnes of sugar were supplied to three African countries – Cameroon, Libya and Guinea," said Taras Vysotskyi.
Overall, Vysotskyi believes the sugar market is stable. The produced sugar is sufficient to meet Ukrainians' internal needs as well as the necessary export volumes.
Background:
- In November 2023, French sugar beet growers demanded that growing sugar imports from Ukraine be re-exported outside Europe to avoid harming local farmers.
- In February, Polish authorities announced plans to restrict Ukrainian import goods such as sugar, poultry, eggs, frozen raspberries, apple juice, sunflower, and rapeseed oil.
- On 7 March, the EU reserved the right to resume duties if Ukrainian imports of poultry, eggs, and sugar exceeded the volumes of 2022 and 2023.
- A little later, cocoa futures in New York and London reached record highs, aided by a supply shortage following a poor harvest in West Africa, as well as rising coffee and sugar prices.
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