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Nordzucker Post 01/2022 - 10 February 2022

Lars Gorissen: Good harvest – good prices

Dear Readers,

we have successfully concluded the 2021/22 campaign. The harvest was at a good average level throughout the company, and in Germany we even achieved a top sugar yield of 14.2 tonnes per hectare. My special thanks go to all those involved, especially for their commitment in the more difficult situations of this long campaign.

It is very pleasant that we will also be able to pay good beet prices for this harvest. In the variable contracts, they are even the best prices since the end of the sugar market regime and the liberalisation of the sugar market. Good prices on the world market, a slight deficit in the EU with a satisfying price trend and, above all, our own high performance make this possible.

For some months now, we have been experiencing a stormy development of prices on the commodity markets. This affects the competing crops in the fields, the input materials for production as well as energy, and operating and auxiliary materials in our plants as well.

Nevertheless, the conditions for good beet prices are again in place for 2022. In any case, we expect even better sugar prices for the 2022 harvest.

In the competitive sugar market, reliability of supply to our customers is very important. Sugar beet deliveries are the essential basis for this. Nordzucker will therefore pay one euro per tonne as a fulfilment bonus for all contract beet in the 2022 growing year (fixed and variable contracts in Germany) in addition to the agreed price. The decisive factor is the fulfilment of the cultivation recommendation or the completion of the contract.

I very much hope you enjoy reading this edition of the Nordzucker Post with further news from the company. I also look forward to welcoming our shareholders in person again this year at the joint Annual General Meetings of Nordzucker AG and Nordzucker Holding AG on 20 July 2022 in the Volkswagen Halle in Braunschweig.

Lars Gorissen

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