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

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 ...