Cepea, May 3, 2018 – The average price for crystal sugar in the spot market of São Paulo State increased in April, the first official month of the 2018/19 crop. Last month, the CEPEA/ESALQ Index for crystal sugar averaged 54.89 BRL per 50-kilo bag, 7% up compared to that in March/18 (51.32 BRL per bag). Prices were underpinned by the behavior of mills in São Paulo, which allocated larger amounts of sugarcane to ethanol production.
Unica (Brazilian Sugarcane Industry Association) data indicate that, in the first fortnight of April, São Paulo State crushed 13.255 million tons of sugarcane, 25.23% more than in the same period last year. From this amount, 64.53% was allocated to ethanol production and 35.47%, to sugar production. As a result, the sugar output from São Paulo was 5.1% smaller than in the same fortnight of the previous season.
Between March 29 and April 30, the CEPEA/ESALQ Index for crystal sugar (São Paulo) rose 3.2%, closing at 55.11 BRL (15.72 USD) per 50-kilo bag on April 30.