[ad_1]
Cepea, August 5, 2024 – Cepea calculations indicate that domestic sales of crystal sugar resumed being more attractive than exports at the end of July, a scenario that had not been observed since the period from June 17-21, 2024. Demerara sugar prices decreased at ICE Futures, while the exchange rate continues at high levels.
From July 22-26, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar (Icumsa 130-180) closed at BRL 133.03 per 50-kilo bag, while the average of the October/24 contract at ICE Futures closed at 131.38 BRL per bag. Thus, sales in the spot market remunerated 1.26% more than exports of SP did. This figure considered weekly averages at USD 62.89 per ton of freight and charges, USD 94.08 per ton for quality premium and dollar at BRL 5.6252.
Liquidity remained practically stable in late July in the spot market. Purchasers continue to trade small amounts to meet immediate needs.
Between June 28 and July 31, the CEPEA/ESALQ Index for white crystal sugar (Icumsa from 30 to 180) moved up 0.7%, averaging BRL 133.79 per 50-kilo bag on July 31.
Abroad, values dropped because of the good progress of the sugarcane crop in the Central-Southern area in Brazil, the increase of Brazilian exports and projections of higher production in the 2024/25 global season.
According to Secex, Brazilian sugar exports have averaged 142,387 tons per day up to the third week of July, 1.6% higher than in July/23. The sugar production in Central-Southern Brazil amounted 17.14 million tons in the accumulated of the current season (until July 1st), for an increase of 10.37% compared to the same period last crop – data from Unica. However, comparing the first fortnight of July this year with the same period in 2023, the region produced 9.7% less, at 2.939 million tons, which limited decreases of international quotations.
(Cepea-Brazil)
[ad_2]
Fonte: Cepea