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Cepea, January 3rd, 2024 – In the portfolio of products traded by producing units, the flagships are still sugar (especially in this season) and ethanol. Concerning sugar, quotations were firm during the 2023/24 season, while ethanol prices registered sharp decreases.
Due to the higher supply, ethanol values are finishing 2023 moving down compared to the year before. From April to November/23, monthly CEPEA/ESALQ Indexes for hydrous and anhydrous ethanol in São Paulo state decreased 15.6% and 14.9% compared to the same period last season, in real terms (values were deflated by IGP-M November).
Prices were influenced by the higher sugarcane production and by the good pace of agricultural and industrial activities in São Paulo. El Niño had little impact on the sector, and the sugarcane processing lasted until December for some units.
Concerning sugar, international prices sustained values in Brazil. At ICE Futures, futures hit 28 cents of dollar per pound in early November.
If the volume of ethanol produced from sugarcane increased, the fuel produced from corn in the Central-West in Brazil is the highlight in the current season. From April to November/23, the advance was 42% in relation to the same period of 2022, at 4.05 billion liters.
Brazilian exports of ethanol totaled 1.73 billion liters from April to November/23, 5.62% below that in the same period last season, according to data from Secex. The revenue was USD 1.07 billion in the same period, for a decrease of 20.5%.
(Cepea-Brazil)
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Fonte: Cepea