Brazilian sugar prices keep moving down even with the beginning of off-season period. The CEPEA/ESALQ Index averaged 16.89 dollars per bag of 50 kilos on November 16, decrease 2.5 percent in relation to October 31st.
According to Unica (Sao Paulo Sugar Cane Agroindustry Union), until November 1st, 90 percent of the total crop production had already been processed in the Center-Southern region, totaling 334.81 million tons, volume 9.3 percent higher than that of the same period last season.
The Brazilian government decided to increase from 20 to 23 the percentage of anhydrous ethanol added to gasoline. However, ethanol production should not enlarge, due to the end of the harvest period - the crop production is almost over.