Market info - sugar
Western Europe prices were Eur17/mt higher on the week at Eur620/mt. Mediterranean Europe prices were unchanged on the week at Eur643/mt.
UK price was Eur30/mt higher on the week at Eur700/mt. The spot sugar price increased in France by Eur10/mt to Eur620/mt from Eur610/mt last week. This was in line with the release from the French agriculture ministry’s research unit (Agreste) that expects the sugar beet planted area in 2022 to be stable or to drop slightly by 3% for 2022-23. The uncertainty over the use of neonics may discourage growers to continue to plant sugar beets. Beet belt prices were higher on the week by Eur20/mt from Eur600/mt to Eur620/mt driven by “sugar producers [who] are trying to push up beet prices so farmers will still plant
the beet due to increase in [prices] of other cereal crops,” one source said. “The higher fertilizer costs have resulted in a higher cost on farmers which they are trying to transfer to sugar producers,” .