Index oscillates and returns to 114 BRL/bag

Cepea, July 16, 2021 – Average crystal sugar prices traded in the spot market in São Paulo moved up in early July. The CEPEA/ESALQ Index for crystal sugar rose 0.92% on July 5, hitting 116.87 BRL (22.99 USD) per 50-kilo bag. As the fortnight went by, however, values returned to 114 BRL/bag because some mills reduced prices for Icumsa 180 sugar. As for Icumsa 150 (higher quality), the supply continued limited, given that most part of the production has been traded in both the domestic and international markets.

 

On July 15, the CEPEA/ESALQ Index closed at 114.71 BRL (22.38 USD)/50-kilo bag, 1% up from that on June 30.

 

The market is focused on the 2021/22 sugar supply in the Central-South Brazil, major global exporter. In addition to estimates of lower production this year, frosts in part of the crops reinforce players’ concerns. This scenario may affect the next season (2022/23), given that frosts hit newly planted areas, in general.

 

Unica says that, from April/21 to June/21, the Central-South produced 12.256 million tons of sugar, 8.16% less compared to the same period last year (13.345 million tons).

 

As for exports, Secex indicates that, in the first quarter of this crop (from April to June/21), Brazil shipped 6.998 million tons, 3% up compared to that in the same period last season (6.794 million tons).

 

(Cepea-Brazil)

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