Devaluation reaches 17 percent in August

Brazilian sugar prices decreased around 17.00 percent in August, closing the period around 18.45 dollars per bag of 50 kilos (São Paulo state). The main reason for the downward trend is the larger supply, as 2006/07 crop harvest moves on. Besides, the international sugar prices started to decrease since forecasts pointed to a larger global production.

Since the beginning of the month, Brazilian sugar market has been more advantageous than exports. Price parity calculated by Cepea showed that the Brazilian market (São Paulo state) remunerated 11 percent more than exports in the last week of August (21 to 25).

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