Bitter sugar price tussle heading for arbitration
Thursday, July 1, 2021
British Sugar and NFU Sugar could be heading to arbitration for the first time in history after a bitter tussle over the contract price for the 2022 crop. British Sugar has set out an indicative beet price of £25 per tonne for 2022/23. NFU Sugar has responded furiously, arguing that with current buoyant sugar market conditions and recent profits it can easily afford to pay growers a higher price. The most recent counter-offer made by NFU Sugar to British Sugar is a fixed price of £27.75/t on a one or two-year contract, including the opportunity for existing multi-year growers to upgrade if committing to both 2022 and 2023. Under the law, if British Sugar and NFU Sugar cannot agree on a price, the government’s Department for Environment, Food and Rural Affairs would need to act as or appoint an arbitrator, a process which could result in a decision as late as October 2022.Click here to connect to the source of this storyClick here for more News and Views
As I browse the web researching various topics concerning the EU and UK sugar markets, I've been bookmarking interesting weblinks. Some of these are news clippings, some are links to official documents, and some are interesting data sources.