Ukrtsukor: Energy resources could trigger rise in price of sugar to UAH 7-8 per kg
2012-07-07 10:21:50
A reduction in the area under sugar beets this year cannot significantly influence the price of sugar, because there are significant reserves of sugar and they fully meet the stocks of the domestic market.
However, energy resources and other components of the product's prime cost are steadily rising, which may increase the value of sugar by 15-20%, Head of National JSC Ukrtsukor Mykola Yarchuk said, UKRINFORM reported.
"We expect an increase in the prime cost of sugar this year, although the predicted harvest will help fully satisfy domestic demand. The prime cost could grow by 15-20% due to energy resources," the expert said.
He predicted that in the 2012/2013 marketing year the price of sugar for consumers will grow to UAH 7-8 per kilogram.
According to Ukrtsukor, sugar production in Ukraine from the sugar beets of the 2012 harvest could reach 1.8 million tons, which is 22.8% less compared to the current season.
As of June 5, 2012, average wholesale prices for sugar ranged between UAH 5,200 and UAH 5,700 per ton.