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Royal Cosun announces sugar beet price

10 February 2004

Royal Cosun, a leading manufacturer of food ingredients, has set the BMS price for the sugar beet supplied during the 2003 campaign at € 54.79 per tonne. At average sugar content, this corresponds to a price of  € 59.60 per tonne of BMS beet, an increase of 14% on 2002. The cooperative’s Board announced the price during the Members’ Council meeting in Nijkerk on 10 February.

 

The price of € 54.79 per tonne excluding VAT (2002: € 51.91) has been set for BMS beet with a sugar content of 16% and average extractability. Because of good weather conditions, the sugar content in 2003 was exceptionally high and reached an average of 17.04%. Hence the increase in the average BMS price to € 59.60 (2002: € 52.17). Apart from the higher sugar content, the main reasons for this 14% increase are the restitution of production levy for the 2002/2003 season and the limited sugar quota discount compared to 2002.
 

Owing to the historically low world market price consequent on the low dollar exchange rate, the price of C beet with 16% sugar content and average extractability has been set at € 4.64 per tonne excluding VAT. The price paid for C beet in the previous year had been € 5.15 per tonne excluding VAT.

 

Cosun will publish its figures for the past financial year on 18 March 2004.

 

The figures below compare beet and sugar production in 2003 and 2002 (between brackets).
 

Total beet production 4,071,000 tonnes (4,024,000 tonnes)
Total sugar production 677,000 tonnes  (642,000 tonnes)
of which C sugar 146,000 tonnes (138,000 tonnes)


The price of BMS beet with 16% sugar and everage extractability, excluding VAT, has developed as follows in recent years:
2003: € 54.79
2002: € 51.91
2001: € 56.88
2000: € 52,56
1999: € 52.03