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Cepea, June 18, 2024 – Average prices of white crystal sugar rose in the accumulated of June (until June 17) in the spot market of São Paulo state. Between May 31 and June 17, the CEPEA/ESALQ Index for white crystal sugar (Icumsa from 30 to 180) upped 0.35%, averaging BRL 136.28 per 50-kilo bag on June 17.
Among the reasons for price rises in a scenario of advances of both the harvest and processing activities of the 2024/25 season is the devaluation of Real against dollar, which leads mills to limit the supply of Icumsa up to 180 crystal sugar, since exports are more attractive.
Between June 10 and 14, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar (Icumsa 130-180) closed at BRL 136.65 per 50-kilo bag, while the average of the July/24 contract at ICE Futures closed at 136.48 BRL per bag. Thus, sales in the spot market of SP remunerated 0.12% more than exports did. This figure considered weekly averages at USD 58.92 per ton of freight and charges, USD 109.96 per ton for quality premium and dollar at BRL 5.3744.
Demerara sugar values rose at ICE Futures in mid-June, due to expectations of lower productivity in the second semester of 2024 and in the next season (2025/26), due to the dry weather in the Central-South in Brazil. Moreover, India might export less sugar, a scenario that helped to boost international values.
Data from Unica indicate that the sugar production in this region in the accumulated of the 2024/25 season upped 11.8% in relation to the same period last crop, totaling 7.837 million tons.
(Cepea-Brazil)
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Fonte: Cepea