Index keeps at 16 dollars per bag

Even with the decreases at the New York Board of Trade (Nybot) and the new estimative that confirm the global surplus to the 2006/07 crop, the Brazilian sugar market keeps stable. Since February 13, the CEPEA/ESALQ Index for crystal sugar (Sao Paulo state) has been remaining at around 34.00 reals or 16 dollars per bag of 50 kilos.

Last Thursday, Mar 15th, the Index averaged 34.79 reals or 16.65 dollars per bag, up 0.5 percent in Real and 2 percent in dollars in the accumulated of this first fortnight of February.

According to the F.O. Licht sugar report, the global sugar production increased to 161.8 million tons, raising 1.8 million over the previous estimative.

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