Demand boosts prices in Brazil

Brazilian sugar market moved at a better pace during the first fortnight of 2009, after the holidays. Boosted by higher demand, the CEPEA/ESALQ Index for crystal sugar (Sao Paulo state) increased 8.3 percent in Real between December 30th 2008 and January 15th 2009, closing at 35.71 reals or 14.99 dollars per bag of 50 kilos on Thursday, Jan 15th.

According to Unica (Sugar Cane Agroindustry Association), until December 31st, 496.7 million tons of sugarcane were processed in the Center-Southern region, an increase of 15.5 percent compared to the same period of 2007/08 crop. The sugar production totaled 26.6 million tons from April (crop beginning) to the end of December, 1.8 percent superior to that verified in 2007. For ethanol, the production reached 24.61 billion liters, up 21.4 percent. (Cepea - Brazil)

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