Crop moves on and prices drop more than 11 percent

Brazilian crystal sugar prices kept moving down during the first fortnight of May, as the 2007/08 crop harvest moves on.

The CEPEA/ESALQ Index (Sao Paulo state) averaged 28.51 reals or 14.11 dollars per bag of 50 kilos this Tuesday, May 15th, decrease 11.4 percent in Real and 10.9 percent in dollar from the beginning of the month to date.

According to the Unica (Sao Paulo Sugar Cane Agroindustry Union), until the second week of May, 145 mills of the Center-Southerner region started to harvest the 2007/08 crop.

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