Higher UK sugar beet prices for 2023-24 will safeguard beet growing on many farms in the short term

Farmers Weekly

Monday, January 2, 2023

Publication of the 2023-24 harvest price as early as July 2022 – with £40/t available, depending on commitment – was a surprise for many growers and a sign of the pressures from high commodity crop prices on all processors, says Andersons director Jamie Mayhew. A cash advance on a proportion of the 2022-23 crop, along with an increased guaranteed price, gave further confidence to the sector. Similar to potatoes, the 2023 contract felt like a critical moment for the industry. There was a good chance that if the price didn’t meet expectations, it would have resulted in a significant reduction in area, supported by buoyant cereal prices. Attracting growers to return to the crop would have required a further increase.

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