Higher supply presses domestic prices down

Brazilian sugar prices dropped with more intensity during the last week of September. The pressure came from the higher supply. Some mills, in need of discharging inventories, offered a larger volume. Moreover, other ones were more willing to trade in order to make cash.

The CEPEA/ESALQ for crystal sugar (Sao Paulo state) averaged 24.52 reals or 13.37 dollars per bag of 50 kilos on Sept 28th, down 2.31 percent in Real over Sep 21st - in the accumulated of the month, the devaluation was of 2.6 percent in Real.

Even with the recent decreases, the Brazilian sugar trades kept remunerating more than exports between Sept 24th and 28th. The reason is that the international values have remained at low levels. According to the price parity calculated by Cepea, the advantage of domestic trades, which has been happening since the end of August, was of 4 percent over exports in the last week (from Sept 24th to 28th).

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