ED&F Man Ukraine suspends the work of sugar plant for two years

ED&F Man Ukraine suspends the work of Zaselsky sugar plant for two years.

"There are no problems with the raw materials base or production. It is the cost of sugar. World prices do not offer any perspectives, we do not see any positive changes in the near future," said Igor Buchatskiy, the Country Manager of ED&F Man Ukraine, in the exclusive comment for Latifundist.com.

According to him, the company sees the profitability of sugar production at a price of at least USD 400 per ton, and now it is USD 360 per ton.

"Accordingly, we will not sow sugar beets, we will shift towards grains and pulses. Also we enter such new fields as niche cultures. We expand the area under chickpeas and we plan to sow lentils," he summed up.

Reference: Ukrainian Farming Company, a subsidiary of ED&F Man, completed the harvesting of sugar beet with a productivity of 56 tons/ha.

Note: Ukrainian sugar market in 2017 was dominated by 10 companies.