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Royal Cosun announces beet price

7 February 2008
The Board of Royal Cosun has set the price for quota beet from the 2007 campaign at € 41.31 per tonne. The beet price was announced during the meeting of the cooperative's members' council in Nijkerk. A distribution will also be made on old shares of € 6.00 per tonne of beet.
 
The beet price of € 41.31 per tonne excluding VAT is payable in respect of quota beet with average extractability and average sugar content. The average price paid per tonne of beet from the 2006 campaign had been € 49.05.
 
The beet price for 2007 is more than € 7 per tonne lower than that for the previous year on account of changes in the EU sugar market organisation. The price for 2006 had been underpinned by a higher EU intervention price for quota beet and had benefited from the repayment of EU production levies; production levies were payable again in 2007. The average sugar content was markedly higher in 2007 than in the previous year (17.4% versus 16.4%), which resulted in a higher content-based payment.
 
A distribution will also be paid in respect of beet delivered on old shares of € 6.00 per tonne. This distribution is based on the results of the non-sugar activities. In 2006, these results had been incorporated in the beet price.
 
The price for surplus beet with average sugar content and average extractability has been set at € 21.17 per tonne. Last year, the average price for surplus beet had been € 19.38 per tonne.
 
The table below shows the harvest and sugar production figures for 2007 in comparison with 2006 (between brackets). The sharp increase in volumes is due to the acquisition of CSM Sugar.
Total beet production   5,266,000 (3,468,000) tonnes
Total sugar production 853,000 (537,000) tonnes
– of which quota sugar  806,000 (515,000) tonnes


Cosun will publish its results for the past financial year on 2 April.