By FWi Staff
BRITISH Sugar and the NFU have announced the agreed payment terms for the current crop today (Tuesday, 22 September, 1998).
An interim price of 29.41 per adjusted tonne of contracted beet has been finalised for 1998/99. This figure includes a deduction of “A” (2%) and “B” (39.5%) producer levies. This is a reduction of 0.76 compared to last year and is the result of the continuing strength of Sterling reducing both the sugar and sugar beet support prices.
|The price paid for last campaigns contract beet in April 1998 was 32.01. However, Since then there have been further downward pressures on both sugar and sugar beet prices. The final payment for last campaigns “C” beet will also be made in November. It is estimated that a further 4.80 per adjusted tonne of “C” beet delivered will be paid, making a total (including the April clawback payment) of 9.36 per adjusted tonne.|
|In addition, the average payment for LDB and transport allowance paid during the 1997/98 campaign was 5.13. The total paid for 1997/98 “C” beet will therefore be approximately 14.49 per adjusted tonne, or 16.00 per clean tonne.||
The indications are that this years crop looks to be similar to the five year average, although some parts of Yorkshire and the West Midlands are reported to have had a difficult growing season. “Well planned harvesting and storage will allow producers crops to reach full potential,” said a spokesman from British Sugar.