British Sugar and NFU Sugar have announced the 2018 sugar beet contract offers with prices up £0.50/t on last year
British Sugar and NFU Sugar have confirmed the guaranteed minimum price on both the one year and three year contract options were £22.50/t plus market bonuses.
The market-linked bonus will be based on a 10 per cent share of the sugar market price above €475/t for the one year contract and a 25 per cent share for the three year contract and will continue to be linked to the average EU market price for white sugar.
Colm McKay, British Sugar agriculture director, said he was believed the agreement would ‘continue to build on the firm foundations of our home-grown sugar industry’.
“We are very proud of the relationship we have with each of our growers and look forward to continuing to grow the success story that is the beet sugar industry in the UK.”
NFU Sugar Chairman Michael Sly said: “This agreement offers growers a range of options which they can tailor to suit their business needs and their appetite for risk.
“It provides some certainty in an uncertain world and secures a bright future for the UK sugar beet growers,” he said.