17:23 04.11.2015

Sugar factories produce 860,000 tonnes of sugar, no reason for rise in prices - Pavlenko

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Sugar factories produce 860,000 tonnes of sugar, no reason for rise in prices - Pavlenko

Ukraine has enough sugar and there is no reason for a rise in sugar prices on the domestic market, Minister of Agricultural Policy and Food Oleksiy Pavlenko said at a briefing in Kyiv.

"How do price hikes happen? When people are concerned about a product possibly disappearing from stores. The country has enough sugar, therefore we do not see any objective reason for a rise in prices higher than the level we have today," he said.

According to the minister, as of November 4 Ukraine had produced 860,000 tonnes of sugar. Ending stocks are estimated at 500,000 tonnes.

The ministry confirmed its forecast for sugar production in the 2015/2016 marketing year (September-August) at the level of 1.2-1.3 million tonnes.

The minister said that the sugar beets yield this year is slightly lower, however the sugar content is much higher.

"The country will have sugar and bread," Pavlenko added.

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