Cheap Ukrainian sugar is coming

By: Trademagazin Date: 2023. 11. 23. 10:43

🎧 Hallgasd a cikket: Nyelv: Sebesség: 1.05×

The government allows the import of cheap Ukrainian sugar, which may cause serious losses to domestic sugar beet producers and the only functioning domestic sugar factory.

The president of the National Association of Sugar Beet Growers (CTOSZ) warns that 40 percent of the domestic supply may be lost as a result. The decision has a direct impact on the price of sugar beet, as a higher supply could depress the price of sugar, reducing producers’ incomes. This step presents further challenges to domestic sugar beet producers, who are already struggling with high costs.

The Hungarian government originally banned the import of Ukrainian products, but has now backed down in the case of sugar, while the import stop remains in effect for other products.

The decision repeals the previous measure banning the import of certain agricultural products from Ukraine. However, according to EU rules, some Ukrainian products can be imported into the EU without restrictions.