In North West Europe, challenging harvesting conditions have emerged as a result of a series of storms, causing ground saturation. As of mid-November, France has only harvested 50% of its beet crop, significantly below the typical 80% for this time of year. While France bears the brunt of the impact, Germany, the Netherlands, and the UK are also anticipating delays in their harvests.

In Romania, the beet harvest had to be extended by two weeks compared to the initial schedule due to persistently wet weather conditions that slowed down the harvest. The factory had to operate at minimum capacity to accommodate late farmers who had not completed their harvest.

These delays raise concerns about achieving the initially estimated total crop output, ranging between 16.5 to 17 million metric tons. Although production is still projected to surpass that of the 2022/23 season, much hinges on the weather’s impact on the remaining beet sowing.

Despite the weather challenges, sugar prices across all European regions have declined. The East-EU Vesper Price Index (29/11/2023) dropped to €835 | $911/mt DAP, Campaign 23/24, the West-EU Vesper Price Index decreased to €843 | $920/mt DAP, Campaign 23/24, and the South-EU Vesper Price Index decreased to €865 | $944/mt DAP, Campaign 23/24.

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