Sugar as the reason for rising prices in Ukraine: why global indicators are falling to record lows

Sugar prices in Ukraine have risen again despite a decline in prices on the global market. In June, the average cost of sugar rose by 1.55%, reaching UAH 34.02 per kilogram, compared to UAH 33.52 per kilogram in May.

The situation in supermarkets varies: the Novus chain offers a price of UAH 32.99 per kilogram, while in ATB, the price is UAH 32.90, and in Silpo, it ranges from UAH 31.49 per kilogram with a discount. This allows buyers to buy products profitably, depending on the shares.

On the global market, however, there is a decline in prices. It is noted that sugar futures in July fell to $ 0.1582 per pound, which is the lowest figure since April 2021. The decrease in prices has been ongoing since mid-March and is attributed to increased exports from India and Thailand, the two leading sugar producers.

In Ukraine, despite the global decline in prices, the price of sugar is increasing. This is due to high demand and increased costs for logistics and production. Thus, Ukrainians are faced with rising prices for this critical product despite global trends.