XM does not provide services to residents of the United States of America.

Ukraine's 2024 sugar beet harvest may fall 16.7%, consultancy says



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-Ukraine's 2024 sugar beet harvest may fall 16.7%, consultancy says</title></head><body>

Adds quote, weather conditions, export details

KYIV, Aug 15 (Reuters) -Ukraine's 2024 sugar beet harvest may fall to 10 million metric tons from around 12 million in 2023, agriculture consultancy APK-Inform said on Thursday, citing state weather forecasters.

Ukraine's sugar beet yield in 2024 could reach 48 tons per hectare, with a gross harvest of about 10 million tons, the forecasters said, adding thevolume is in line with the average for the last five years.

Most of Ukraine experienced an abnormal heatwave in July, which producers expect will decrease the yield of late crops by around 30% in 2024.

The state weather forecasters said that weather conditions for sugar beet yield formation deteriorated to "unfavourable"in July due to very high air and soil temperature.

"It has inhibited or stopped beetroot weight gain. In some places, steady wilting and drying of plants during daytime hours was observed," they said.

The forecasters gave no data on sugar content in the root and possible white sugar output this year.

In 2023, Ukraine produced 1.8 million tons of white beet sugar after farmers increased the sugar beet sowing area to 250,000 hectares from 186,000 hectares in 2022.

The agriculture ministry has said it expectssugar output to reach 1.8 million tons in 2024and exports of 900,000 tons.

However, Ukrainian white beet sugar exports plunged to 10,300 metric tons in July after the European Union curbed the country's sugar imports.

Kyiv officials and local sugar producers said in May that Ukrainian sugar exports to the European Union had reached 262,600 metric tons, the volume defined under EU rules as Ukraine's quota for 2024.

Ukraine produced 5 million tons of beet sugar during the Soviet era, but has since sharply reduced production due to export problems and competition with sugar made from cane.



Reporting by Pavel Polityuk; editing by Jason Neely and Ana Nicolaci da Costa

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.