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Cepea, March 18, 2024 – White crystal sugar quotations dropped again in the spot market in São Paulo in early March. Despite the decrease, domestic values resumed remunerating more than exports, according to data from Cepea. This scenario has not been observed since January this year.
From March 4 and 8, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar (Icumsa 130-180) closed at BRL 141.94 per 50-kilo bag, while the average of the May/24 contract at ICE Futures closed at 141.69 BRL per bag. Thus, sales in the spot market of SP remunerated 0.18% more than exports did. This figure considered weekly averages at USD 69.27 per ton of freight and charges, USD 136.90 per ton for quality premium and dollar at BRL 4.9524.
Liquidity in the spot market in São Paulo increased slightly in mid-March compared to late February; however, in general, the pace of new trades for prompt-delivery was slow. In this final offseason period of the 2023/24 crop, the supply has been low, especially for high-quality sugar. Purchasers, in turn, indicate to have stocks.
Between February 29 and March 15, the CEPEA/ESALQ Index for sugar (Icumsa 130-180) dropped 0.72%, closing at BRL 144.19 per 50-kg bag.
(Cepea-Brazil)
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Fonte: Cepea