Ukraine has begun to import raw cane sugar under a 260,000 per tone tariff quota

Friday, May 7, 2021
Ukraine has begun to import raw cane sugar under a 260,000 per tone tariff quota

Ukrainian enterprise “Gnydiavksii sugar factory” starts production of cane sugar

According to the Ministry of economic development, trade and agriculture, the law “On the establishment of a tariff quota for the import of raw sugar from cane” into Ukraine in accordance with Ukraine’s obligations to the World Trade Organization. As of May 5, 2021, Ukraine imported 26,200 tons of raw sugar with an average price of $480 per ton.

“The estimated value of the sale of raw sugar, taking into account the cost of processing, logistic expenses and after payment of compulsory payments, will be about ₴ 22,000-23,000/t", the State Customs service reports.

Vasily Mukha, the Head of the “Gnydiavksii sugar factory”, states that the plant is fully prepared for the work of processing raw material into sugar and the process starts on the 10 of May. Also, Mukha notes the importance of the new processing industry both on the sugar market of Ukraine and on the overall economic picture.

“Gnydiavksii sugar factory” has managed to take this raw material according to the quota, and this is a big step forward, in particular, will diversify production, create additional jobs, improve the economy, fill the budget further, and the most important thing is to contain the increase in sugar prices, which continue to rise because soon the berry harvest season and the demand for sugar will increase”, — says Yuri Gorbenko, the Head of the Department of agribusiness development of the Volyn region.

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