Inventories keep pressing prices down

Brazilian sugar prices kept moving down during the first fortnight of May. On Thursday, May 15th, the CEPEA/ESALQ Index for crystal sugar (Sao Paulo state) averaged 26.51 reals or 16.02 dollars per bag of 50 kilos, decreasing 4.2 percent in Real over April 30th. The pressure keeps coming from inventories from the previous crop. Regarding the product from the current crop, the volume is still low and has been directed to accomplish contracts.

Regarding the price parity calculated by Cepea, the anhydrous ethanol remunerated 4 percent more than the sugar between May 5th and 9th. The hydrated remunerated as much as the sugar. In the same period, the domestic trades (Sao Paulo state) remunerated 11 percent more than exports, according to Cepea. (Cepea - Brazil)

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