Since the crop beginning, price drops more than 30 percent

Since April, when the 2007/08 crops started in the Center-Southern region of Brazil, the CEPEA/ESALQ Index (Sao Paulo state) for crystal sugar moved down 30.85 percent in Real and 26.2 percent in dollar. The pressure keeps coming especially from the higher supply, as the crop moves on, and from the expectative of global surplus in this season.

On Friday, June 29th, the Index for crystal sugar averaged 24.96 reals or 12.41 dollars per bag of 50 kilos, dropping 9.7 percent in Real and 10 percent in dollar over May 31st.

Regarding the 2007/08 crop, until June 1st, 70.59 million tons of sugarcane were processed in the Center-Southern region, volume 1 percent higher than that processed in the same period of 2006, according to the Unica (Sao Paulo Sugar Cane Agroindustry Union).

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