During the first fortnight of April, the supply of crystal sugar was slightly smaller than the demand. At this beginning of the 2008/09 crop in the Center-Southerner of Brazil, the production is basically destined to the VHP sugar (export) and to the ethanol. At the beginning of the month, buyers were more willing to trade, supporting values. In the following days, however, they retreated, since were enough supplied. Besides that, the decrease of international values has limited the raises in the domestic market
Between March 31st and April 15th, the CEPEA/ESALQ Index (Sao Paulo state) kept stable in Real, averaging 28,31 reals or 16,82 dollars per bag of 50 kilos on Tuesday, April 15th. The supply keeps low.
The International Sugar Organization (OIA in Portuguese) forecasts the sugar global production of the 2007/08 crop (from October/07 to September/08) at 168.44 million tons. The consumption should correspond to 159.13 million, resulting in a surplus of 9.31 million tons. The OIA also projects a crescent ethanol global production next years, from 77 billion liters in this year to 127 billion in 2015. (Cepea - Brazil)