The futures-linked contract has much more potential to increase in value, should the market rise, than the market-linked bonus. However, the downside on the futures-linked contract is unlimited whereas the market-linked bonus contract has a minimum price. Estimates of the world market surplus for 2025 continue to grow. The 2025/26 beet contract agreed between NFU Sugar and British Sugar requires growers to place at least 30% of their 2025 contract tonnage on one or both of the market related contract options. The maximum proportion of contract tonnage that can be put on the £33/t fixed price contract is 70%, but it is possible to put a smaller proportion on the fixed price contract and more than 30% across the other choices. As a guideline, Globaldata’s latest European sugar market report assesses European sugar prices as being contracted around €480-€525/t for 2024/25, depending on location and size of buyer, whereas earlier in the summer sale prices were being assessed around €570/t – more or less equal to the trigger level on the 2025 MLB contract.