Brazil: Sugar prices rose in February

Published 2023년 3월 13일

Tridge summary

In February, the price of white crystal sugar in São Paulo's spot market experienced a slight increase, with the CEPEA/ESALQ Crystal Sugar Indicator noting a 1.24% rise to R$ 133.49/50 kg bag, despite a decrease of 1.41% from January and 8.77% year-over-year. This price uptick was attributed to a reduced supply of high-quality sugar, though weak demand resulted in some mills keeping prices unchanged or lowering them. The international sugar market also played a role, with India and the European Union expected to produce less sugar than projected, while demand from China was forecasted to rise, leading to strong demerara values and an average of 10.49% more profit from exporting sugar over domestic sales.

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

Original content

White crystal sugar prices rose on the spot market in the state of São Paulo in February. “The support was attributed to the lower supply of better quality sugar (type Icumsa up to 180). However, even with little availability, weak demand led some mills to give up on selling prices, especially at the beginning and end of the month”, stated researchers from the Center for Advanced Studies in Applied Economics (Cepea), at Esalq/USP , in report. According to the document, the CEPEA/ESALQ Crystal Sugar Indicator (state of São Paulo) accumulated a rise of 1.24% in February, closing at R$ 133.49/50 kg bag on the 28th. of R$ 132.09/50 kg bag, decreases of 1.41% compared to January (R$ 133.98/50 kg bag) and 8.77% compared to February/2022 (R$ 144, 78/50 kg bag), in nominal terms. READ MORE > 20 years of flex technology is highlighted at the opening of Santander DATAGRO In February/2022, the monthly indicator for crystal sugar CEPEA/ESALQ for Pernambuco was R$ 139.71/sc of 50 kg, up 1.25% ...

Source: Jornalcana