Economy

Payment schedule announced for sugar beet

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The price for sugar beets has been determined and purchases have begun. It has been reported that payments will be completed within 30 days. Turkish Sugar Factories (Türkşeker) made advance payments of 4.4 billion lira to producers this year, with payments for the ongoing sugar beet purchases set to be completed within 30 days. The sugar beet purchase price for 2024 was set at 2,375 lira per ton with the quota completion bonus by Türkşeker. Last year, the sugar beet purchase price was set at 1,855 lira per ton, marking a 28% increase. Approximately 9.7 million tons of sugar beets were purchased last year, while around 7.3 million tons are planned for this year. According to the sugar beet production contracts made between Türkşeker and producers, sugar beet payments are completed within 30 days from the date when beet purchases are completed at the factory level. Sugar beet plantings for this year began at the end of February. Commitments were received for the entire quota of 8.1 million tons of sugar beet production set for 2024.

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