Restricted supply and higher demand limit decreases

The rate of deceleration prices fell during the first fortnight of June in the Brazilian sugar market. Some buyers were more willing to trade, focused on fulfill inventories. Moreover, the supply keeps restricted at this beginning of crop.

On Friday, June 13th, the CEPEA/ESALQ Index for crystal sugar (Sao Paulo state) averaged 26.09 reals or 15.95 dollars per bag of 50 kilos, decreasing slight 0.2 percent in Real over May 30th. In May, the Index averaged 26.71 reals or 16.09 dollars per bag, dropping 4.98 percent in relation to April and 8.15 percent over May 2007.

According to the Sao Paulo Sugar Cane Agroindustry Union (Unica), in the current crop, harvest activities are moving at a low pace compared to the previous year. Until May 15th, it was processed 43.18 million tons of sugarcane in the Center-Southern region, 5.07 percent less than in the same period of 2007. The sugar production has reached 1.64 million tons (reduction of 25.27 percent). For the anhydrous ethanol, the decrease was of 20.33 percent, and the volume totaled 463.7 million liters - on the other hand, the hydrated production raised 2.02 percent, totaling 1.32 billion liters. (Cepea - Brazil)

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