Cosun Beet Company has released its first sugar yield forecast. According to the sugar giant, the prognosis is above the multi-year average due to the good condition of the crop. Moreover, the acreage of sugar beet appears to have increased slightly this season.
The sugar beets are currently in very good condition and are growing strongly. The crop is in above average condition for this time of year. Cosun Beet Company reports that more than 90% of the sugar beet acreage nationally is closed. The 10% that is not yet closed can be found mainly in the north on the clay soil. In this area, approximately 30% is not yet closed due to extensive overseeding due to crust formation.
14,9 tons of sugar
The first forecast of the sugar yield is promising and amounts to 14,9 tons of sugar per hectare, reports Cosun. This is considerably higher than the multi-year average of 13,9 tonnes of sugar. The yield forecast takes into account the current state of the sugar beets. The company assumes average weather and no extremes until harvest. "The season is still long and a dry, hot summer can quickly reduce this. In addition, it will again be a challenge to keep the crop healthy," Cosun reports. Boerenbusiness.
The region with the highest kilograms of sugar per hectare is the Zeeland Islands with 16,8 tons of sugar, closely followed by Zeeuws-Vlaanderen with 16,2 tons of sugar. The region with the fewest kilograms of sugar is the Northern Sands with 13,4 tons per hectare. The Northern clay region is not far away from this with 13,5 tons of sugar according to the first forecast. The growth point date, the date when the sugar beets start to grow in thickness, also turned out to be positive. This date is four days earlier than the multi-year average.
It was already known during the sowing period that the area of sugar beet was approximately the same as last year, but this now appears to have even increased. "A lot has been oversown, but the area is known. This has increased to 83.700 hectares this season, an increase of 1,3%," says Cosun.
European sugar beets
Although sugar beets are in good condition in the Netherlands, cultivation is difficult in South-Western Europe. The drought and heat cause yield reductions in countries such as Italy, but also in France. Further in Europe, sugar beets are in good condition on average, but precipitation is also necessary in several regions, such as in Eastern Europe. The yield forecasts of the European Commission's JRC Mars Bulletin are much more positive. The sugar beet yield forecast this month was estimated to have increased to 78,1 tonnes per hectare. That is 5,4% higher than the five-year average.
Sugar does not (yet) follow oil
Sugar prices appear to be experiencing one of the most stable periods in a long time. The quotation fluctuates slightly around $560 per tonne on the Liffe exchange rate, which is still a high price level. What is striking about the sugar quotation is that it has had little or no influence on the falling crude oil price. Since last week, crude oil prices have been steadily declining. The price of Brent crude oil has fallen from $122 per barrel to $111 per barrel since last week, a drop of more than 9%. A further decline in the crude oil price will probably be visible in the price of sugar.