TRENDS AND PERSPECTIVES OF SUGAR MARKET DEVELOPMENT IN UKRAINE
Abstract
Kuzmenko S.V., Melnychenko V.V. TRENDS AND PERSPECTIVES OF SUGAR MARKET DEVELOPMENT IN UKRAINE
Purpose. The aim of the study is to research the sugar market of Ukraine and to determine the main trends and prospects for its development.
Methodology of research. The research was based on key principles of economic theory and management, as well as the works of both domestic and foreign scientists on the topic of sugar market development. The following research methods were used in the article, namely: systematic analysis to identify trends in the sugar market's development, analysis of sugar production and consumption data from 2001 to 2023, statistical analysis for processing data on sugar beet and sugar production in Ukraine and forecasting potential opportunities for sugar production up to 2026.
Findings. The study focused on the production, cultivated areas, and productivity of sugar beets in Ukraine. The main producers analysed the production and yield of sugar beet in Ukraine. The research also examined the export of sugar and its geographical distribution. Taking into account the complex social and economic conditions and military operations on Ukraine's territory, the sugar production forecast was made taking into account three options: the most expected, optimistic and pessimistic. Despite the challenges posed by war and economic instability, it was found that the Ukrainian sugar market has significant potential for development. Key priorities for achieving sustainable growth include the use of modern technologies, state support, development of export opportunities, and the implementation of environmentally sustainable practices.
Originality. Considering the challenging social and economic conditions and military activities in Ukraine, a sugar production forecast was developed based on three scenarios: the most likely, optimistic, and pessimistic. It has been determined that despite the obstacles presented by war and economic uncertainty, the sugar market in Ukraine holds considerable potential for growth.
Practical value. The research results on the state and development trends of the Ukrainian sugar market are valuable for sugar industry managers. They can use this information to make well-informed decisions, enhance competitiveness and diversify activities in the global sugar market.
Key words: sugar market, production, efficiency, profitability, financial stability, economic competition, sugar market situation, sugar production forecast.
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