Ukraine's Sugar Export Reaches 10 Year Highest

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Ukraine's Sugar Export Reaches 10 Year Highest

PR Newswire KYIV, Ukraine, July 16, 2012

KYIV, Ukraine,July 16, 2012/PRNewswire/ -- Ukraineexported 117,900 tons of sugar overSeptember 2011-June 2012. This is the largest export amount for the country in the last ten years, informsUkrainian Agribusiness Club (UAC)."Ukraineis capable of producing sugar that would be competitive to the global market. The country has favorable climate for growing sugar beet and leading companies which invest in increasing sugar and sugar beet production,"said Taras Vysotskyi,UACexpert. Sugar prices stimulate sugar export - since domestic price for sugar inUkraine isUSD 625per ton, and international -USD 650. In part, export increase is the result of the development of the sugar beet industry in the country over the last couple of years, suggested Vysotskyi. The Ukrainian sugar industry has been growing rapidly, with the country having produced 2.33 million tons of sugar in 2011 compared to 1.54 million tons in 2010, according tosugaronline.com. InSeptember 2011-June 2012Ukraine exported the largest amount of sugar toKazakhstan- 83,000 tons, as well as Georgia(8,900 tons) andKyrgyzstan(5,900 tons). In addition, major importers of Ukrainian sugar includeLebanon(4,450 tons over the listed period), Uzbekistan(3,987 tons),Turkmenistan(3,400 tons), andSyria(2,400 tons). Notably,Ukraine'sannual sugar consumption amounts to 1.86 million tons, according to Mykola Yarchuk, Head of the National AssociationUkrtsukor. This provides the country with export potential of 470,000 tons (as ofJanuary 2012), noted Yarchuk. At the same time,Ukrainedecreased sugar imports to 10.2 thousand tons in 2011/2012 marketing year compared to 289 thousand tons in 2010/2011 marketing year, reportedUkrtsukorwebsite. In 2011,Ukraineimported sugar from world top sugar producer and exporterBrazil(231 thousand tons), as well asBelarus(37.5 thousand tons). Earlier, Ukrainian agrarian minister Mykola Prysiazhniuk reckonedUkraine could export approximately a million tons of sugar per year, earning aboutone billion dollars. This projected export volume is comparable to the amounts provided world's top sugar exporters. WhileBrazilexports almost 18 million tons (nearly 40 percent of world sugar), other countries that export large amounts of sugar -Guatemala,India,South Africa, andCuba- trade somewhere between 1.2 and 1.5 million tons annually, according to sugarins.com.