Sugar Beet price increase likely for 2016/17

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As we are sure you are aware, we have seen weaker sterling exchange rates over the last few months. We are pleased to confirm that it is likely to have positive consequences for beet prices for both CTE and ICE for the 2016/17 campaign. Under the IPA agreement, the terms outline that a price increase is payable if the value of the EU Minimum Beet Price, which is set in euros, surpasses the agreed contract price of £20.30 per adjusted tonne. The exact price payable will be published in early October as the price is based on the average of the September euro to pound sterling exchange rate published daily by the ECB, and is also subject to the deduction of the EU Production Charge.

Last edited on: 06:09:2016

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