A record sugar harvest is expected thanks to the wet summer.

Sugar producer Danisco said initial field samples in northern Europe showed beet production levels would exceed averages for the past five years.

But the Danish group said that despite the expectation of a record harvest, the new EU sugar regime meant it was not altering its outlook on earnings from sugar for the current year.

Under the new rules, which came into effect last year, sugar produced over and above the quota is either transferred to the quota for the following year, or used for non-food purposes.

Danisco says it has been increasing its focus on sugar for non-food uses, such as pharmaceuticals and animal feed.