Fargo, ND - Yesterday, American Crystal Sugar Company shareholders gathered in Fargo to reflect on an incredible sugarbeet crop and look ahead with Focused on the Future-themed events and speakers.
Shareholders reviewed crop and financial results from the 2023 crop year (2024 fiscal year ended August 31), discussed market conditions shaping the cooperative in calendar year 2024, and forecasted results for 2025.
The 2023 sugarbeet crop produced 31.9 tons per acre, and growers harvested a record total of 12.7 million tons of sugarbeets. Sugar content was above average at 18.5 percent. The increased sugar content and favorable sugar, pulp, and molasses markets increased the net payment per ton to $83.18.
Crop production in 2024 was unprecedented, with a total of 13.2 million tons of sugarbeets harvested this fall. Sugarbeet storage and consistent slice rates remain a critical focus with unprecedented tonnage processing through American Crystal operations. Though there is a new record for tons harvested and an exceptional sugar content of 18.5 percent, market conditions are expected to soften, and the forecasted net payment per ton is down to $75.79.
American Crystal Sugar Company Summary Financial Information
Crop Year 2022 2023 2024
Fiscal Year 2023 2024 2025
Acres Harvested (thousands) 456 398 410
Tons Per Acre 26.5 31.9 32.2
Sugar Content 18.5% 18.6% 18.5%
Tons Harvested (millions) 12.1 12.7 13.2
Beet Payment Per Ton (1) $70.63 $83.18 $75.79
(1) Crop 2024/Fiscal 2025 represents current projections.