Europe’s sugar buying campaign for the 2025/26 season has officially begun, and procurement managers across the confectionery, bakery, ice cream, and food manufacturing sectors are facing different price landscapes across regions in Europe.
European white sugar prices have shown varied movements throughout 2025, with West-EU VPI moving from €555/mt in January to €590/mt by August. Regional price differences have remained significant, with South-EU consistently trading at premiums to West-EU, while East-EU markets have offered more competitive pricing throughout the year.
Understanding the market dynamics that shaped pricing through 2025 is essential for making informed decisions during the 2025/26 campaign period. That’s why we’ve created this comprehensive analysis that breaks down precisely what happened monthly across Europe, examining the supply fundamentals, weather impacts, and structural changes that shaped pricing throughout the year.
By understanding these month-by-month developments, procurement managers can better evaluate current pricing offers, assess regional arbitrage opportunities between different European markets, and develop strategies that account for the supply environment that characterizes Europe’s sugar market entering the new 2025/26 campaign season.
January 2025: Setting the foundation
European white sugar prices began 2025 at relatively depressed levels, continuing the bearish momentum from late 2024. The West-EU VPI started the year around €555/mt DAP, with regional variations showing South-EU at €563/mt and East-EU at €535/mt.
European markets were already anticipating production adjustments for the upcoming season. Key players like Südzucker were signaling beet planting reductions of 12-13% for the 2025/26 season, while European sugar consumption continued declining due to shifting consumer preferences toward healthier lifestyles.
The market was transitioning from tight conditions to expected surplus globally, but European producers were positioning for reduced output that would create regional supply dynamics independent of global trends.
February 2025: Early price recovery begins
February saw the first signs of European price recovery, with West-EU VPI climbing from €562/mt in early February to €584/mt DAP by mid-month. Regional price variations remained significant, with South-EU moving from €573/mt to €600/mt DAP and East-EU rising from €548/mt to €546/mt.
The month was characterized by continued speculation about planting intentions. Suggestions emerged that Cosun was planning a 10% reduction in area, though no definitive statements were made. Industry concerns about diseases spreading via the Pentastiridius Leporinus cicada across Europe added to supply uncertainty, as no solution existed for this pest.
Global trade tensions, particularly around U.S.-Brazil ethanol trade policies, created supportive sentiment that helped lift European markets alongside fundamental supply concerns.
March 2025: Industry consolidation drives price recovery
March proved to be a pivotal month for European white sugar markets, with prices climbing steadily throughout the period. By early March, West-EU VPI reached €600/mt DAP, and by mid-month had strengthened further to €606/mt DAP. Regional variations became more pronounced, with South-EU climbing from €613/mt to €622/mt DAP, while East-EU remained more stable around €570/mt.
The month was dominated by major structural changes in the European sugar industry. Agrana announced immediate factory closures in Austria and Czechia, citing multiple pressures including potential Mercosur trade deals, Ukrainian imports, and regulatory challenges. This permanent removal of processing capacity from the European market provided fundamental support for pricing.
Global supply disruptions also influenced European sentiment. Global sugar markets experienced significant volatility, with prices initially falling sharply in early March due to record deliveries against futures contracts, before recovering later in the month as supply constraints became apparent.
Weather conditions remained generally favorable for spring planting across the beet belt, though precipitation stayed below March averages in most regions. French agencies confirmed that aphid infestations would peak around May 13th, later than usual due to colder winter conditions, reducing immediate crop risks.
Production cut estimates became increasingly concrete, with North German producers suggesting area reductions of around 10%. The combination of structural industry changes and confirmed supply reductions created the foundation for the price strength that would characterize the remainder of 2025.
April 2025: Trade disruptions and weather concerns
April saw European white sugar markets maintain strength despite global pressures. West-EU VPI held firm around €598-601/mt DAP, with South-EU ranging between €602-615/mt and East-EU between €570-575/mt.
The month was marked by new trade tensions as U.S. tariffs on Brazilian sugar and ethanol took effect. While the immediate impact on Europe was limited, the potential redirection of Brazilian exports to global markets raised concerns about increased import competition.
Severe March rainfall deficits became a critical factor, with precipitation levels 60-85% below average across Germany, France, the UK, Belgium, and the Netherlands. The driest areas, including Niedersachsen, Vlaanderen, and Groningen, recorded less than 0.5mm of rain.
Despite these concerns, spring weather provided near-ideal drilling conditions for beet planting across the key beet belt. Sowing commenced earlier than in previous years under benign conditions, though the lack of moisture remained a concern for crop development.
Processors began tightening contract terms to manage sugar production more closely, with significant changes in pricing structures reflecting the evolving supply environment.
May 2025: CIBE confirms supply reductions
May proved to be a crucial month for confirming European supply fundamentals. West-EU VPI held steady at €600/mt DAP, with South-EU maintaining levels around €601/mt and East-EU at €570-575/mt.
The month’s defining moment came when CIBE (International Confederation of European Beet Growers) released their first official estimate showing a 7% reduction in EU27 beet area. When factoring in an expected 8% cut in the UK, the total EU28 area reduction reached approximately 7.4% – higher than earlier projections of 5-6%.
Notably, France and Germany, the EU’s two largest beet growers, reported relatively modest reductions of 5%, helping cushion the overall regional decline. This led to observations that operations in satellite countries bore most of the reduction burden.
Weather conditions became increasingly critical as dry spring conditions began stressing crops. The UK beet region had received only 33% of normal rainfall over 10 weeks, while Eastern European regions also experienced significant moisture deficits. Early aphid presence in France, ahead of initial forecasts, prompted authorization of Movento to manage virus yellows risks.
The combination of confirmed area reductions and mounting weather stress provided fundamental support for European pricing despite continued global surplus expectations.
June 2025: Weather becomes critical factor
June marked a turning point as weather conditions became increasingly critical for European crop development. While rainfall arrived in many beet-growing regions, questions remained about whether the precipitation would be sufficient to offset earlier deficits.
The market was closely monitoring soil moisture levels and crop stress indicators. European Sugar Market Analysis noted that while conditions had been exceptionally dry, spring’s relatively low nighttime temperatures had reduced evaporation levels, providing some mitigation.
The differentiation between soil types became important, with beet on heavier soils showing positive outcomes with good root weights, while crops on sandier soils struggled to retain moisture. This created localized production variations that would influence regional pricing patterns.
July 2025: European resilience amid global recovery
July saw European white sugar prices maintain their strength with West-EU VPI holding at €600/mt DAP. The ongoing European heatwave and lack of rainfall were creating regional contrasts that reinforced the supply tightening story.
While Poland, France, and parts of Central Europe struggled with drought conditions, the UK and Romania reported more favorable progress. This created a patchwork of production expectations across Europe, with disease pressure emerging as an additional concern, particularly in Germany where Rubbery Tap root could potentially impact up to one-third of the crop.
The EU Sugar Experts Panel’s June forecast projected an 8% decline in European sugar production, supporting the price levels that had developed throughout the first half of the year. Regional variations remained significant with South-EU at €610/mt and East-EU at €568/mt.
August 2025: Campaign preparation with improved conditions
August concluded the pre-campaign period with European white sugar prices showing some variation through the month. Early August saw West-EU VPI at €600/mt DAP with South-EU at €618/mt and East-EU at €555/mt, before settling to €590/mt DAP by month-end.
July rainfall had exceeded average levels across key European beet-growing countries, including Germany, France, Poland, the Netherlands, the UK, and Belgium, supporting more favorable beet development conditions. This weather improvement provided some relief from the drought concerns that had characterized earlier months.
Acreage cuts were proving smaller than initially feared at around 5-6% year-over-year. For Cosun specifically, beet area fell 5% to 83,220 hectares with output expected near 7.65 Mt. While still meaningful, these reductions were less dramatic than some early estimates suggested.
Trade activity remained quiet, but underlying fundamentals supported pricing. Imports from October to May in the 24/25 season reached 1.07 MMT, down 44% compared to 1.9 MMT in the same period last season. Meanwhile, exports rose to 1.3 MMT, up 30% year-over-year, indicating Europe’s changing trade balance.
The new crop season was approaching, with mid-September marking the traditional start of active European buying activity. Both buyers and sellers were positioning for the campaign, with the supply dynamics established throughout 2025 providing a framework for negotiations.
Production estimates for the EU+UK crop reached 16.6-16.8 MMT, creating oversupply pressure for the 2025/26 season. Looking ahead to future plantings, Nordzucker announced plans for 10-16% area reductions in Sweden for the following year, though industry analysts suggested that structural oversupply may ultimately require factory closures to achieve the necessary production cuts for market rebalancing.
Key themes for procurement managers entering the 2025/26 campaign
Regional price variations: Persistent differences between West-EU (€590/mt), South-EU (€610/mt), and East-EU (€550/mt) offer strategic sourcing opportunities for flexible supply chains.
Supply tightening: European beet area reductions of 5-7% combined with weather-related stress created the foundation for current pricing levels entering the campaign.
Weather dependency: Drought conditions in spring and summer created ongoing uncertainty about final production outcomes, making weather monitoring essential for campaign planning.
Currency impacts: The strengthening euro against the dollar consistently influenced import parity calculations and made European markets more attractive for imports.
Limited trade activity: Physical markets remained quiet throughout most of 2025, with buyers and sellers maintaining cautious positions while monitoring crop development – a dynamic that continues into the campaign.
Global vs regional dynamics: Despite global surplus expectations, European fundamentals proved more resilient, creating the current pricing environment that defines the 2025/26 campaign.
Want to follow real-time European sugar price developments throughout the 2025/2026 campaign? View all sugar prices and sugar price forecasts here.
