Prices surpass 100 BRL/bag and hit a new nominal record in the Brazilian market

Cepea, November 5, 2020 – In the last week of October, the CEPEA/ESALQ Index for crystal sugar quotes rose to 100 BRL per 50-kilo bag in the spot market of São Paulo State (SP), closing at 100.61 BRL (17.50 USD)/bag on Oct. 30, 13.66% up in the month. On Nov. 4th, this Index closed at 102.16 BRL (18.04 USD) per bag, hitting a new nominal record in the series of Cepea – the previous record, of 100.92 BRL/bag, was registered on October 28, 2016.

The average price in October closed at 93.75 BRL per 50-kilo bag, 8.34% higher than that in September/20 (86.53 BRL/bag).

 

This year, prices have been boosted by the fast exports pace, which has limited supply in the Brazilian market. This scenario is observed despite the higher sugar production in the current season (2020/21).

 

According to data from Secex (Foreign Trade Secretariat), from January to September this year, Brazil shipped 21.22 million tons of sugar, 68.24% more than that exported in the same period last year. The revenue received from these shipments (up to September) totaled 5.973 billion USD, 63.16% higher than that in the first nine months of 2019.

 

(Cepea-Brazil)

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