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Cepea, May 6, 2024 – The supply of crystal sugar (Icumsa up to 180) continues limited in the spot market of São Paulo state; however, prices decreased again in late April. The CEPEA/ESALQ Index for white crystal sugar closed at BRL 143.54 per 50-kilo bag on April 30, for a decrease of 1.34% in relation to March 28.
Both the harvest and the cane crushing of the 2024/25 season continue to take place due to the dry weather in São Paulo. However, mills have been prioritizing the delivery of contracts, reducing the availability for trades in the cash market. Still, the weak demand has been pressing down values.
Between April 22 and 26, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar (Icumsa 130-180) closed at BRL 147.66 per 50-kilo bag, while the average of the May/24 contract at ICE Futures closed at 132.82 BRL per bag. Thus, sales in the spot market of SP remunerated 11.18% more than exports did. This figure considered weekly averages at USD 63.09 per ton of freight and charges, USD 108.38 per ton for quality premium and dollar at BRL 5.1462.
Data from Unica indicate that 15.81 million tons of sugarcane were crushed in the first fortnight of the 2024/25 season, 14.11% up in relation to that in the same period last crop, producing 31% more sugar comparing crops.
(Cepea-Brazil)
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Fonte: Cepea