EU – EU completed the 23/24 crop with 1.8mmt of refined exports to the World Market. The start of the 24/25 crop year has been strong with 166kt exported in November 2024, approximately 159% higher YoY. In November 2024, Poland has exported the most sugar, with 52kt compared with France at 31kt. November EU imports fell to 73kt compared to the previous month, down 60%; one of lowest imports recorded since 2020. In Poland, the National Association of Sugar Beet Producers noted that beet contracts for 25/26 were around EUR 30/mt (vs. EUR 40.0-46.5/mt in 24/25). As a result, beet planting in 2025 is expected to fall by 20-25% to 255k ha.
Russia – Last week IKAR reported that Russia could export over 1mmt of sugar in 24/25 despite lower production. Russia is likely to produce close to 6.2mmt in the current crop, about 600kt less than the previous season. The strong export performance therefore results from the large carry over from the previous crop. Russian sales usually goes to the Eurasia regions, displacing raw sugar imports from Brazil.
Ukraine – According to the National Association of Sugar Producers of Ukraine, the country exported close to 750kt of sugar in 2024, the highest volume of sales since 1997. EU accounted for 40% of the imports and the balance went to the World Market, mainly to the Med region.