Due to the increases of Brazilian sugar prices, domestic trades kept remunerating more than exports between Mar 24th and 28th for the second week in a row. According to the Cepea, the advantage of domestic trades (Sao Paulo state) remained at 4 percent over exports.
The CEPEA/ESALQ Index for crystal sugar (Sao Paulo state) closed at 28.29 reals or 16.14 dollars per bag of 50 kilos on Monday, Mar 31st, increasing 6 percent in Real compared to Feb 29th.
According to the Unica (Sao Paulo Sugar Cane Agroindustry Union), during the 2007/08 crop it was processed 431.1 million tons in the Center-Southerner region of Brazil, increasing 15.64 percent over the previous one. Some mills have already started the harvesting of the 2008/09 crop in the Sao Paulo state, but the volume available in the market is still low. (Cepea - Brazil)