Brazil: Cassava prices increase by 8.7% in November, according to Cepea

Published 2024년 12월 2일

Tridge summary

The average price of cassava increased by 8.7% in November, continuing a six-week market trend, with the forward price for a ton of cassava starch reaching R$697.39, a 0.8% increase from the previous week and 11.2% increase from the same period in 2023. The rise in price is due to cassava producers increasing their participation in negotiations and soybean planting completion, but a large portion of farmers remained away from transactions due to dissatisfaction with productivity levels, leading to a supply-demand mismatch and continued appreciation of the root.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The average price of cassava, as determined by Cepea, increased by 8.7% in November, reflecting the movement in the market, which continued to rise for the sixth consecutive week. During the period between November 25 and 28, the average forward price for a ton of cassava starch was R$697.39, which represents an increase of 0.8% compared to the previous week and 11.2% compared to the same period in 2023, in real terms (considering the IGP-DI of October/24). This behavior is attributed, in part, to the completion of soybean planting in some regions, which caused cassava producers to increase their participation in negotiations, seeking to capitalize. However, a large part of the cassava farmers, dissatisfied with the lower-than-expected productivity levels, remained away from the transactions, which resulted in supply below industrial demand. This ...

Source: Portal Do Agronegocio