Ukraine in the marketing year 2021/2022 (MY, September-August) produced 1.4 million tonnes of sugar, which completely covers domestic demand in the amount of 1.2 million tonnes, therefore, the excess of production over consumption eliminates the shortage of this product in the country, the Ukrainian Agribusiness Club (UAC) said on Friday.

"In 2021/22 MY, some 1.4 million tonnes of sugar were produced, which is 44% more than in the previous year. The produced sugar is enough to cover Ukraine's annual demand for sugar calmly and even with a margin. And given the fact that part of the population of Ukraine temporarily went abroad and the consumption also decreased, respectively, the transitional balance is increasing," the association specified.

The association recalled that during the sowing campaign in Ukraine, as of June 2, some 181,000 hectares had already been sown with sugar beets, which is 80% of the sown area of the previous year. In addition, a new season of sugar making will begin in four months to meet the needs of Ukrainians next year.

According to the UAC, in the context of the Russian military invasion in Ukraine, there is a rush demand for basic food products. Each family is trying to stock up for more than one month, fearing food shortages and possible price increases. In turn, an increased demand can lead to higher prices.

As reported, a number of countries banned export of sugar to meet their own needs. In May 2022, restrictions on its export were introduced by India, Kazakhstan and Kyrgyzstan, in April - by Belarus, in March - by the Russian Federation.