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Arable Farming
Cropping
Beet '22
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<blockquote data-quote="Rookie" data-source="post: 8033559" data-attributes="member: 667"><p>Yes. Copy of email.</p><p></p><p>We are very aware of the significant cost inflation our growers are currently exposed to, and, with sugar pricing also climbing, we think that the right thing to do is to recognise this by reviewing the amount that we can pay to you. We will do the right thing even if we have no contractual obligation to do so.</p><p></p><p>We have worked closely with NFU Sugar to understand growers’ likely costs for this year’s beet crop, and as a result we believe we need to guarantee a price to all growers. I can today confirm that <strong>all contracts for the 2022/23 crop year, regardless of contract length, will pay at least £27/tonne.</strong></p><p></p><p>This blanket £27/t payment will apply to <strong>all contracts</strong> linked to the crop that is about to be planted. If you hold a contract that has a fixed price below £27/t, we are unilaterally raising your price today to £27/t. If you have a contract which has a market bonus element, we are guaranteeing you a minimum market bonus of £5.82, which gets you to a minimum £27/t, paid as the crop is delivered.</p><p></p><p>The world futures market contract remains unchanged and is currently paying well above £27/t for any open positions which growers choose to close out today. The surplus beet price for the 2022/23 crop will also pay at £27/t.</p><p></p><p>As I mentioned in my introduction two weeks ago, I am committed to strengthening collaborative relationships with you – our growers - and identify opportunities for sugar beet to remain economically viable for everyone; so I very much hope that you will welcome the enhancement to the multi-year contract prices for the 2022/23 crop year.</p></blockquote><p></p>
[QUOTE="Rookie, post: 8033559, member: 667"] Yes. Copy of email. We are very aware of the significant cost inflation our growers are currently exposed to, and, with sugar pricing also climbing, we think that the right thing to do is to recognise this by reviewing the amount that we can pay to you. We will do the right thing even if we have no contractual obligation to do so. We have worked closely with NFU Sugar to understand growers’ likely costs for this year’s beet crop, and as a result we believe we need to guarantee a price to all growers. I can today confirm that [B]all contracts for the 2022/23 crop year, regardless of contract length, will pay at least £27/tonne.[/B] This blanket £27/t payment will apply to [B]all contracts[/B] linked to the crop that is about to be planted. If you hold a contract that has a fixed price below £27/t, we are unilaterally raising your price today to £27/t. If you have a contract which has a market bonus element, we are guaranteeing you a minimum market bonus of £5.82, which gets you to a minimum £27/t, paid as the crop is delivered. The world futures market contract remains unchanged and is currently paying well above £27/t for any open positions which growers choose to close out today. The surplus beet price for the 2022/23 crop will also pay at £27/t. As I mentioned in my introduction two weeks ago, I am committed to strengthening collaborative relationships with you – our growers - and identify opportunities for sugar beet to remain economically viable for everyone; so I very much hope that you will welcome the enhancement to the multi-year contract prices for the 2022/23 crop year. [/QUOTE]
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Beet '22
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