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Cepea, February 19, 2024 – White crystal sugar prices dropped in the spot market of São Paulo state in the first official offseason month of the 2023/24 crop. In January, the CEPEA/ESALQ Index for sugar (Icumsa 130-180) averaged BRL 145.04 per 50-kg bag, for a decrease of 5.32% in relation to the average in December/23 (BRL 153.19/bag). Despite the slight increase of liquidity from the second to the third week of the month, the low demand prevailed.
Sugar values registered slight increases in the spot market of São Paulo state in the week before carnaval (February 12 and 13). Although the demand was not very high, it has sustained quotations, a scenario that kept liquidity stable. The supply from mills, especially for high-quality sugar (Icumsa up to 180), has been limited in this 2023/24 offseason period.
In the Central-Southern area in Brazil, the below-average volume of rainfall for this time of the year and high temperatures may affect the development of the 2024/25 sugarcane season.
(Cepea-Brazil)
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Fonte: Cepea