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Crystal sugar price fluctuates in the first fortnight of November

 

Cepea, November 18, 2021 – The average price for crystal sugar fluctuated in the spot market of São Paulo State (SP) in the first fortnight of November. Devaluations occurred when agents from sugar mills were more willing to lower asking prices, majorly when the volume purchased was high. Besides, demand was lower early in the month, due to the holiday on November 2nd (All Souls’ Day). On the other hand, price rises reflected the low supply in the national spot market and the valuation of demerara sugar abroad.

 

At ICE Futures (NY), the future contract for demerara sugar increased, influenced by the dollar depreciation against the Real, which may constrain Brazilian sugar exports. The valuation of Brent oil also helped to underpin demerara sugar prices, since the ethanol plants in central-southern Brazil may increase production of the biofuel and reduce that of sugar.

 

On Nov. 12, the CEPEA/ESALQ Index for crystal sugar (SP) closed at BRL 155.73 (USD 28.55)/50-kilo bag, a new nominal record in the series of Cepea. Between Oct. 29 and Nov. 16, this Index rose by 1.07%, closing at BRL 154.52 (USD 28.14)/bag on Nov. 16.

 

(Cepea-Brazil)

 

 

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