2021/22 season starts with slight price drop

Cepea, April 16, 2021 – In the first official week of the 2021/22 crop, the crystal sugar price average in the spot market in São Paulo registered a slight decrease. Between April 1 and 9, the weekly average of the CEPEA/ESALQ Index for crystal sugar was 105.78 BRL per 50-kilo bag, 0.17% down compared to that between March 29 and April 1st (105.96 BRL/bag). However, comparing March 31 and April 15, the Index increased 2.78%.

 

Although some mills in SP have already started crushing activities in this early April, they are not offering the product obtained in this new season yet. The low supply available refers to the product from the crop before, 2020/21.

 

The demand remains limited, and purchasers are expecting an availability increase in the coming periods, as the crushing advances, and, consequently, price drops. On the other hand, international demerara values resumed moving up to 15 cents of dollar per pound at ICE Futures at the beginning of the month. This scenario, along with high dollar quotes, may encourage Brazilian exports, as observed in the season before.

 

Secex says that, from April/20 to March/21 (2020/21 season), sugar exports totaled 32.132 million tons, increasing sharply 69.56% compared to that registered from April/19 to March/20 (2019/20), of 18.95 million tons.

 

(Cepea-Brazil)

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