British Sugar and NFU Sugar agree contract for 2024/25 sugar beet crop

British Sugar
Monday, December 18, 2023
British Sugar and NFU Sugar have concluded negotiations and agreed a deal for the 2024/25 sugar beet contract. Both parties recognise that growers’ appetites for risk vary and choice is important, therefore growers can select from a number of options: a £40 per tonne fixed price (as per the 2023/24 price) a core price of £38 per tonne plus a market-linked bonus a Futures-linked option, for up to 35% of their contract yield protection at a £1 per tonne reduction on the core or fixed contract price The cash advance option, late delivery allowance, local premium, and frost insurance are the same as last year. This announcement comes after a lengthy negotiation, and both British Sugar and NFU Sugar have agreed that the process has not served the industry well. As part of the continued modernisation of our industry we have therefore agreed a shortened negotiation timeline which will deliver a final price and contract earlier in the year.
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