The higher supply pressured sugar prices down in the first fortnight of November, even with the end of the crop period. On Wednesday, Nov 14th, the CEPEA/ESALQ Index for crystal sugar (Sao Paulo state) averaged 23.03 reals or 13.28 dollars per bag of 50 kilos, dropping 1.83 percent in Real over Oct 31st.
Due to the sugar devaluation and the significant ethanol prices increases, the anhydrous and the hydrated returned to remunerate more than the sugar. Between Nov 5th and 9th, the anhydrous remunerated 14 percent more than the sugar and the hydrated, 12 percent.
Regarding sugar price parity among the domestic and international markets, Cepea shows that the domestic market remunerated 10 percent more than exports during from Nov 5th and 9th.