Thanks to refund EU
Beet price 2017 starts with a windfall
More than ever, beet growers are looking forward to the realized beet price for the 2017 harvest. Cosun already has a small windfall to report on 6 December. It receives €7 million in overpaid production levies from the European Union (EU). Some of it flows back to the growers.
Agriculture Minister Carola Schouten has reported to the House of Representatives that approximately €7 million in overpaid production levies will be refunded. However, Member States still have to agree to a regulation. For the entire EU, this concerns €116 million. In 1999/2000 and 2000/2001 this levy was overpaid.
7
million
Plus interest
A statutory interest is charged on the return. This can double the final amount for the Netherlands. Only entitled parties who have paid levies at the time will receive a refund. For 1999/2000 it concerns Cosun.
For the year 2000/2001, part of the money will also go back to the then beet growers. This concerns about 18.000 farmers. Cosun expects the total amount to be €1,8 million, excluding interest.
What will the price be for 2017?
For the 2016 harvest, Cosun paid a beet price from €44,15 per tonne. A stroke of luck. In the first quota-free year, it remains to be seen what the price will be. The current world market price for white sugar gives little hope, but sugar has also been sold in advance for higher prices. Insiders expect that the price will therefore again exceed €40 per tonne.
Niels van der Boom
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