Ukraine to suspend sugar exports to EU: Here's why
Illustrative photo: Ukraine will ban sugar exports to the EU (Getty Images)
Ukraine will ban sugar exports to European Union countries until the end of 2024 due to the quota being nearly filled, states the acting Minister of Agrarian Policy and Food of Ukraine, Taras Vysotskyi.
According to him, sugar export volumes to Europe have reached the limit established under the new trade preference rules. Ukraine is one of the largest sugar exporters to Europe.
"Other markets will be without limits, but the EU market will be opened only from January 1 and then it will become clear what export volumes there will be," Vysotskyi clarified.
According to Reuters, Ukrainian sugar exports to the EU have reached 262,600 tons, the volume set by the EU as Ukraine's quota for 2024.
In 2023, Ukrainian producers exported about 493,000 tons of sugar to the EU.
Continuation of the trade visa-free regime
A few weeks ago, the European Union officially extended the trade visa-free regime with Ukraine, but the decision includes several nuances.
Specifically, the EU decided to reintroduce tariffs on imports of Ukrainian poultry, eggs, and sugar if they exceed the average volumes of 2022 and 2023.
