Sugar beet growers are being supplied £40/t for the 2023/24 contract 12 months, which represents a 48% value improve on final 12 months, with the selection to buy Yield Safety Cowl and opt-in to a 20% money advance paid in June 2023.
The £40/t value displays greater enter prices and the choice crop market, and British Sugar believes this supply is aggressive and gives alternative, safety and profitability at an especially difficult time.
Growers are welcome to use for extra tonnes on the 2023/24 contract and the 2023/24 Futures-linked contract.
Yield Safety Cowl
Growers can select to opt-in to a brand new ground-breaking threat mitigation choice, ought to they want to scale back the yield threat of their contract.
Yield Safety Cowl is designed to mitigate the chance growers face, whatever the trigger, for instance, Virus Yellows, Cercospora, drought, or some other reason behind yield loss.
The quilt, out there to buy at a value of £1.50/t, will assure a fee for 80% of a grower’s Contract Tonnage Entitlement or their five-year common yield multiplied by space sown, whichever is decrease.
British Sugar is providing growers a option to opt-in to a 20% money advance on the 2023/24 crop, paid in June 2023, on receipt of the 2023/24 Crop Space Declaration.
The money advance is predicated on the 2023/24 Crop Space Declaration and calculated on grower’s five-year common yield. It is going to equal 20% of a grower’s anticipated manufacturing, primarily based on the declared crop space multiplied by the five-year common yield, at a fee of £40/t.
Futures-linked variable value contract
A Futures-linked variable priced contract is out there for the 2023/24 crop 12 months, offering growers with the power to make dynamic pricing selections for a portion of their contract.
The beet value underneath this contract will fluctuate with market actions each 15 minutes, with growers securing their value through Czarnikow’s pricing platform, Czapp.
All growers are eligible for this contract and have the choice to allocate as much as 20% of their whole Contract Tonnage Entitlement (CTE) together with any further tonnes requested.
Revised greater costs for Multi-12 months contracts
Growers with tonnage on Multi-12 months contracts have the choice to improve to an enhanced value of £40/t in the event that they contract for 2024/25.
Growers who select to not contract for 2024/25 will nonetheless profit from an elevated base contract value of £32/t, as British Sugar needs to recognise inflationary pressures for growers on the Multi-12 months contracts.
British Sugar is providing a Native Premium for growers as much as 20 miles from the closest manufacturing unit (contract distance). Beginning at £2/t at one mile, the premium reduces on a linear scale right down to 10p/t as much as 20 miles. The Native Premium applies to all contracts operating for the 2023/24 season.
Contract Supply now open
The Contract Supply window is now open and current growers are invited to submit their 2023/24 supply.
Farmers in East Anglia keen on rising beet are additionally welcome to use for their very own contract or uncover different rising choices on supply.
- One-year: £27/t zero crown (equal of £27.92/t on common the place the earlier crown tare deduction and sugar scale phrases utilized)
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