Ukrainian sugar prices increase along with rise in global market prices

Ukrainian sugar prices increase along with rise in global market prices

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Ukrinform
In January 2016, Ukraine's wholesale and retail sugar prices increased by 5.5% in average, and now they are ranging between UAH 14.10 and UAH 14.50 per kilogram. Mainly, an increase in sugar prices was caused by growing prices on the global market.

This has been reported by the press service of Ukrtsukor National Association of Sugar Producers of Ukraine.

“White sugar prices on the London Stock Exchange have increased by almost 4% ($20.1 per tonne) and raw cane sugar prices on the New York Stock Exchange have increased by 6% ($25.3 per tonne) since December 29, 2016,” Ukrtsukor Analytical Department Director Ruslana Butylo said.

According to her, Ukrainian sugar prices correlate with global market prices. The more the pricing situation changes on the global market, the more noticeable it gets for the Ukrainian market.

However, an increase in the minimum prices for sugar and sugar beet for the next marketing year does not affect price formation.

“Retail prices for sugar do not depend on the minimum price. Thus, we cannot say that retail prices will grow along with an increase in minimum prices. Even the current increased minimum price for sugar still remains lower than that put on the market,” Butylo noted.

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