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Cepea, April 3, 2024 – White crystal sugar average prices in the spot market in São Paulo state remained firm in the last official week of the 2023/24 offseason period. Quotations were at around BRL 145.00 per 50-kilo bag. Prices were sustained by the low supply of Icumsa 180 product. The demand from some sugar packaging companies was firm.
From February 29 to March 28, the CEPEA/ESALQ Index for white crystal sugar rose 0.18%, closing at BRL 145.49 per 50-kilo bag on March 28.
From March 25 and 28, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar (Icumsa 130-180) closed at BRL 145.32 per 50-kilo bag, while the average of the May/24 contract at ICE Futures closed at 147.57 BRL per bag. Thus, exports remunerated 1.55% more than sales in the spot market of SP did. This figure considered weekly averages at USD 67.07 per ton of freight and charges, USD 126.67 per ton for quality premium and dollar at BRL 4.9875.
Demerara sugar prices hit the highest level at ICE Futures since late February in the last week of March. Uncertainties regarding the supply in the next season and oil price rises in the international market influenced increases. The lower 2023/24 production in India, due to the below-average volume of rainfall, also influenced the scenario abroad.
(Cepea-Brazil)
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Fonte: Cepea