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Royal Cosun announces sugar beet price

12 February 2003

Royal Cosun, a leading manufacturer of food ingredients, has set the BMS price for the sugar beet supplied during the 2002 campaign at € 51.91 per tonne. The cooperative’s Board announced the price during the Members’ Council meeting in Nijkerk on 11 February.

The price of € 51.91 per tonne excluding VAT for BMS beet with a sugar content of 16% and average extractability is more than 8% lower than the € 56.88 paid in 2001. The main reasons for this are the reduction in the European sugar quota by approximately 6.5% and an additional production levy over 2001. Owing to the low world market price, the price of C beet with the same sugar content and extractability has been set at € 5.15 per tonne excluding VAT. The price paid for C beet in the previous year had been € 15.22 per tonne excluding VAT.

Cosun will publish the figures for the past financial year on 8 April 2003.

The figures below compare beet and sugar production in 2002 and 2001 (between brackets).

Total beet production 4,024,000 tonnes (3,767,000 tonnes)
Total sugar production 642,000 tonnes (596,000 tonnes)
of which C sugar 138,000 tonnes (57,000 tonnes)

The price for BMS beet with 16% sugar and average extractability, excluding VAT, has developed as follows in recent years:
2002 : € 51.91
2001 : € 56.88
2000 : € 52.56
1999 : € 52.03