International market supports domestic figures

During the second fortnight of February, Brazilian sugar prices moved up, supported by the strong increasing international values. On Friday, Feb 29th, the CEPEA/ESALQ Index for crystal sugar (Sao Paulo state) closed at 26.67 reals or 15.77 dollars per bag of 50 kilos, rising 3.4 percent in Real over Jan 31st.

Regarding the bases in the international market, the latest forecast about the Indian sugar production published by the Indian Sugar Mills Association shows that the 2007/08 crop should total from 27 to 27.5 million tons, decreasing 13 percent over the previous estimation. (Cepea - Brazil)

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