Sweet Sour Trade: EU to Slash Ukrainian Sugar Imports Amid Price Crisis

The European Commission is set to cut sugar imports from Ukraine following a collapse in EU sugar prices. Amid protests by EU farmers, sugar imports from Ukraine reached over 500,000 tons, surpassing pre-war quotas. EU agriculture commissioner plans to slash these imports to stabilize the market.

The European Commission plans to significantly cut sugar imports from Ukraine in response to a dramatic decline in sugar prices within the EU, sources reveal. This comes following complaints by European farmers that Ukrainian sugar has been imported in large quantities, disrupting local markets and undercutting prices.

The EU initially offered free market access to Ukrainian agricultural products after Russia's invasion but now faces backlash from local producers. Agriculture Commissioner Christophe Hansen raised the issue during discussions with farm unions and industry leaders, suggesting imports will be reduced to "well below" current levels, without specifying an exact figure.

Meanwhile, Ukrainian Deputy Economy Minister Taras Kachka calls for a fair trade agreement. Ukraine remains open to negotiating a solution, stressing this issue extends beyond trade into the political sphere. With recent EU efforts to stabilize its sugar market, this decision may lead to further rerouting of Ukrainian exports.

(With inputs from agencies.)