Quotations cross 2025 in a strong decline

Contrary to expectations of high prices due to global scarcity, the sugar market registered significant drops throughout 2025, both domestically and externally. Domestic prices opened the year at high levels, with the CEPEA/ESALQ Indicator at R$ 154.98 per 50 kg bag in January. With the start of the 2025/26 harvest in April, prices began a downward trajectory that would extend throughout the year. The average of the Indicator fell to R$ 141.36 per bag at the beginning of the crushing, progressively dropping to R$ 105 per bag by the end of November, the lowest nominal level since April/21. According to Cepea researchers, however, this devaluation did not signify an abundance of the product. On the contrary, availability remained limited, especially for higher quality sugar (Icumsa 150), which was largely directed towards exports. In the balance of the 2025/26 harvest, according to Secex data, Brazil exported 30.86 million tons of sugar (from January/25 to November/25), practically ...