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Cepea, June 4, 2024 – White crystal sugar values finished May in a downward trend in the spot market of São Paulo state. Besides the higher supply of the Icumsa 180 product, the pace of trades was slower at the end of the month, due to the holiday of Corpus Christi on May 30.
Between April 30 and May 31, the CEPEA/ESALQ Index for white crystal sugar (Icumsa from 30 to 180) dropped 5.39%, to close at BRL 135.81/60-kg bag on May 31.
In May/24, the Index averaged BRL 138.98/bag, downing 5.55% against April/24 (BRL 147.15/bag). Compared to May/23 (BRL 148.85/bag), the Index decreased 6.63%, in real terms (IGP-DI April/24).
Between May 27 and 31, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar (Icumsa 130-180) closed at BRL 136.31 per 50-kilo bag, while the average of the July/24 contract at ICE Futures closed at 129.11 BRL per bag. Thus, sales in the spot market of SP remunerated 5.58% more than exports did. This figure considered weekly averages at USD 59.80 per ton of freight and charges, USD 114.57 per ton for quality premium and dollar at BRL 5.2183.
(Cepea-Brazil)
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Fonte: Cepea