Prices for sugar may significantly increase in 2022. High gas prices and rise of the cost on the world markets will lead to appreciation of the sweet product by more than 20%.
Last year the price of sugar rose from 13.1 UAH per kg to 25.4 UAH per kg. The State Statistics Service calculated that the price increase amounted to 65.6% in January-October 2021, reports “ProAgro Group” with reference to AgroTrend.
Experts predict that the price of sugar will continue to rise in 2022. They cite two reasons: high world prices and rising production costs.
The energy component may reach 60-70% of the cost. In addition, in 2022 it is expected to increase the prices of mineral fertilizers, rolled metal and construction materials. This also affects the cost of sugar beet growing and production of finished products.
At the same time the authorities want to keep the prices at the expense of state regulation. According to the text of the bill number 6374, government regulation will also affect sugar. The marginal trade markup should be no less than 5% and no more than 15% of the manufacturer’s selling price.
