German sugar producer Saint-Louis Sucre has urged French farmers not to increase beet acreage in 2024. The company fears prices could plummet due to overproduction, citing stiff competition from Ukrainian suppliers.
Sugar beet yields have been very low in recent years, especially in France. This led to a certain shortage of sugar on the Western European market and a significant increase in sugar prices.
However, after the start of a full-scale war in Ukraine, imports from Ukraine poured into the market: if from August 2021 to July 2022 Ukraine supplied only 25,000 tons of sugar, then in the next season - 390,000 tons.
Ukrainian sugar producers can literally “blow up” the markets of European countries. In Poland and other EU neighboring countries, the situation is obviously the same as with Ukrainian grain. In any case, in France, farmers have reduced the area under this crop to a record low over the past 14 years, although sugar beet prices are still high.
At the same time, experts note that the price of sugar in Western Europe in July 2023 will be 915 euros per ton, which is 57% higher than in the past. This situation can change dramatically thanks to Ukraine.
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