British Sugar has offered a sugar beet price of £37.50 per tonne for the 2024-25 contract year, but it has yet to be agreed with by NFU Sugar.
The offer is slightly down from the 2023-2024 contract year, when the price was £40 per tonne.
British Sugar said it wanted to keep beet 'financially attractive' for growers amid an easing of input costs, such as fertiliser, which has fallen by 50%.
A statement sent to growers said: "We are keeping our fixed price element as high as we can for 2024/25 because we want beet to remain a financially attractive part of your rotation, encouraging you to invest in beet for the future.
"For 2024/25 we are aiming to offer you a fair deal that, like this year, builds a good margin for you as well as sharing any sugar market upside we may see.
"So far, we have not been able to agree a deal with NFU Sugar, but we wanted you to know that our current offer to them guarantees that the minimum price you will receive for beet will be £37.50 a tonne."
British Sugar is the sole processor of the UK’s sugar beet crop, working in partnership with around 3,000 growers.
It processes around eight million tonnes of sugar beet and produces up to 1.2 million tonnes of sugar annually.
