Revoking minimum sugar prices will allow producers to sell sugar surplus at a lower price, and this won't affect prices for consumers, CEO of the Ukrtsukor national association of sugar producers Mykola Yarchuk has said.

"The revoking of minimum prices will not affect the price situation in the market, but it will allow producers, having sugar surplus, to sell it at lower prices and replenish working capital…This will not affect the price situation for consumers," Yarchuk said.

He said the lower price "tied the hands" of producers, as the market dictates that prices should be lower.

At the same time, he said that in the 2015/2016 marketing year (MY, September-August), Ukraine expects sugar production to reach 1.1-1.2 million tonnes compared to 2.1 million tonnes last MY.

"There are many other factors that can affect the price: these are drought, underproduction, a rise in energy prices and the cost of other material resources, raw materials. These factors will not affect the formation of prices in the new marketing year," Yarchuk said.

He added that during the season, 35-36 sugar factories will work in Ukraine.