Written by Charlotte Cunningham from CPM Magazine
NFU Sugar and British Sugar have announced a beet price of £40/t for the 2023/24 sugar beet contract year, equating to a 48% price increase on last year. The offer also includes a number of new options for growers to consider as part of the contract: Growers have the choice to purchase a yield guarantee product that protects income against yield losses. A ‘futures-linked’ variable price contract for the 2023/24 crop which enables growers to make more dynamic pricing decisions for up to 20% of their contracts. A local premium, revised multi-year prices and the option of a cash advance. “I’m incredibly pleased that we are able to announce this contract offer to growers in a timely manner, which represents a significant price increase on the previous contract,” said Michael Sly, NFU Sugar board chair. “With growers facing significant cost increases, and the prices of alternative crops having risen to unprecedented levels, I’m glad we agreed on a contract offer that should keep sugar beet as a valued part of growers’ rotations. I’m hopeful this deal gives the opportunity for re-investment into the sugar beet sector and provides confidence for the future.” Innovative features Michael added that NFU Sugar has invested…
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NFU Sugar and British Sugar have announced a beet price of £40/t for the 2023/24 sugar beet contract year, equating to a 48% price increase on last year. The offer also includes a number of new options for growers to consider as part of the contract: Growers have the choice to purchase a yield guarantee product that protects income against yield losses. A ‘futures-linked’ variable price contract for the 2023/24 crop which enables growers to make more dynamic pricing decisions for up to 20% of their contracts. A local premium, revised multi-year prices and the option of a cash advance. “I’m incredibly pleased that we are able to announce this contract offer to growers in a timely manner, which represents a significant price increase on the previous contract,” said Michael Sly, NFU Sugar board chair. “With growers facing significant cost increases, and the prices of alternative crops having risen to unprecedented levels, I’m glad we agreed on a contract offer that should keep sugar beet as a valued part of growers’ rotations. I’m hopeful this deal gives the opportunity for re-investment into the sugar beet sector and provides confidence for the future.” Innovative features Michael added that NFU Sugar has invested…
The post Beet price of £40/t agreed 2023/24 contract appeared first on cpm magazine.
Continue reading on CPM website...
If you are enjoying what you read then why not considering subscribing here: http://www.cpm-magazine.co.uk/subscribe/