Cosun Beet Company expects a moderate yield of beet sugar for the 2024 harvest. Due to the heavy rainfall, not all sugar beets have been sown yet. Additionally, the sown crops in many areas are suffering from water damage. Despite a slightly increased acreage of sugar beets this year, Cosun anticipates that the sugar yield will not be higher than last year. As a result, there will be less sugar available on the market in 2025, warns the cooperative sugar concern.
In a statement, Cosun Beet Company mentioned that as of Wednesday, June 12, not all sugar beets have been sown. Just under 98% of the intended acreage was in the ground by that date. "We expect that a portion of this will not be sown anymore. Moreover, the extremely wet spring also affects the growth and plant health of the sown plants, especially in fields partially submerged in water," Cosun stated in the release.
The company notes that since January 1, 2024, 457 millimeters of rain have fallen, which is more than 150 millimeters above average. The extremely wet weather has further impacted the situation. "The current expectation is that the upcoming 2024/2025 harvest will not yield more sugar than the previous 2023/2024 harvest, despite the slightly increased acreage compared to last year," according to Cosun.
Less available on the market
The company, headquartered in Dinteloord, emphasizes that not only the Netherlands but also several countries in Northwest Europe have been affected by the heavy rainfall. Combined with other factors, this will have implications for the availability of sugar on the European market in 2025. Apart from the lower-than-expected sugar yield of this year's harvest due to late sowing and water damage, the EU is also exporting more sugar to countries outside the European continent. Furthermore, the maximum quota for imports from Ukraine in 2024 has been reduced (263,000 tons compared to over 400,000 tons last year).
