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Ministry of Agrarian Policy estimates 2007/08 MY sugar overproduction 650,000 MT
16.11.2007 15:47 "Agro Perspectiva" (Kyiv) —
As to Minister of Agrarian Policy Yuriy Melnyk, Ministry has estimated Ukrainian 2007/08 MY (Sept/07-Aug/08) sugar excessive production as much as 650,000 MT. “This MY sugar output will total… 1.6 mn MT. Together with last year sugar remainders, sugar reserves will total 2.7 mn MT… Thus, we face another problem, – overproduction, which will reach 650,000 MT,” declared Minister. Melnyk admitted country sugar industry situation is quite complicated making it necessary to strengthen State support targeted at industry fundamental modernization/diversification. Melnyk made it known 2008 sugar output is planned to be raised to 2 mn MT with further output growth to be assured. Reportedly, as of Nov 8, Ukrainian sugar plants produced 1,330.220 MT sugar from 2007 sugar beet crop. As to experts, this year sugar beet crop is expected to reach 16-17 mn MT (sugar output – 1.7-1.8 mn MT). Experts estimate domestic sugar market annual capacity 2.2 mn MT.
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