August finishes with stable prices

Brazilian sugar prices finished August almost unchanged. The CEPEA/ESALQ Index (Sao Paulo state) for crystal sugar closed at 25.17 reals or 18.82 dollars per bag of 50 kilos on Aug 31st, keeping stable (in Real, the decrease was of only 0.04 percent) over July 31st. Some mills, needing cash, traded at lower values. On the other hand, betting on higher prices, further mills retreated in the domestic market (focused on exports), which limited the decreases.

In the last report, the Unica (Sao Paulo Sugar Cane Agroindustry Union) forecast the sugarcane 2007/08 crop production at 410 million tons in the Center-Southerner region, against the 420 million estimated previously. Even so, it is an increase of roughly 10 percent over the 2006/07 crop.

Sugar productivity should be of 61.22 kilos per ton, reducing 11.54 percent in relation to the previous crop. For ethanol, the productivity should total 45.22 liters per ton, increasing 4.92 percent. The sugar production estimate reduced from 27.5 to 25.1 million tons (drop 2.7 percent over the previous crop). For ethanol, Unica kept its forecast at 18.54 billion liters (increase 15.4 percent over the 06/07 crop).

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