Since the Russian-Ukrainian war started, the EU suspended all import duties from Ukraine to support the country. This enforcement first took place in April, 2022 for the duration of one year, but has now been extended for an additional year.
The EU’s elimination of duties on white sugar imports has allowed Ukraine to offer highly competitive prices for the product in regions experiencing shortages. The Ukrainian white sugar price EXW mill is currently at 722,13 EUR/MT, which is 412,87 EUR/MT lower compared to the South-EU VPI from last week which is currently at 1,135 EUR/MT DAP, see figure below.
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The EU-28 has imported 143,000 tons of sugar since the start of the 2022/23 campaign year (October to September), which is considerably higher than in previous years.
Romania was the primary recipient of the imported sugar, having accumulated 52,800 thousand tons from October to January. Poland has received 20,700 thousand tons, Italy 20,200 thousand tons and Greece 16,430 thousand tons respectively.
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