São Paulo spot market pays more than sugar export

The average prices for a 50 kg bag of crystal sugar fell again in the state of São Paulo at the end of last week. According to researchers at Cepea, the supply from sugar mills remains restricted for Icumsa 150 crystal sugar, which is of higher quality. However, the still-weak demand prevents any price reactions. On the other hand, for demerara sugar traded on the New York Stock Exchange (ICE Futures), prices are rising, sustained by signs of strengthening demand. Researchers at Cepea emphasize that, even in the face of the domestic price decline and the external price increase, the spot market in São Paulo still pays more than the international market. Calculations by Cepea show that from September 22 to 26, while the weekly average of the Crystal Sugar Indicator CEPEA/ESALQ was R$ 118.85/sc, the ...