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Cepea, December 6, 2023 – Pressed down by the low demand, sugar prices decreased in the spot market of São Paulo state in the last week of November. From Nov. 27 to Dec. 1, the CEPEA/ESALQ Index for crystal sugar (Icumsa 130-180) averaged BRL 154.60 per 50-kilo bag, 0.91% down compared to that in the week before (BRL 156.03/bag).
Current values, however, are superior to that verified in the same period last year, since mills are focused on sugar exports, limiting the domestic supply. In November, the CEPEA/ESALQ Index averaged BRL 156.19 per 50-kilo bag, 23.5% higher than that from November/22 (BRL 126.46 per 50-kilo bag), in real terms (deflated by IGP-DI October/23)
Between Nov. 27 and Dec. 1, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar (Icumsa 130-180) closed at BRL 154.60 per 50-kilo bag, while the average of the March/24 contract at ICE Futures closed at 162.30 BRL per bag. Thus, exports remunerated 4.98% more than sales in the spot market of SP did. This figure considered weekly averages at USD 71.53 per ton of freight and charges, USD 105.84 per ton for quality premium and dollar at BRL 4.8910.
(Cepea-Brazil)
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Fonte: Cepea