UK beet farmers set to benefit with futures-based pricing in contract
Thursday, April 7, 2022
Forecast UK beet prices basis Dec futures are indicating up to £38/tonne after a sharp rally in the London white sugar market. Growers opting into a new futures-based pricing mechanism within their contract to supply sugar beet to British Sugar have the chance to profit from a rising sugar market. Like many agricultural commodity markets, the sugar price is rising, although not as strongly as cereal or oilseeds, because it doesn’t have the same exposure to the Black Sea region, Mr Marshall says. “For growers who have allocated to tonnage to be priced this way this season, £33-£34/t was achievable in early March, higher than the traditional fixed price of £27/t. “A lot has changed since that price was agreed last summer. This type of contract allows growers to take advantage of that.”Click here to connect to the source of this storyClick here for more News and Views
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