Brazilian sugar prices kept stable during November. The CEPEA/ESALQ Index of crystal sugar averaged 16.84 dollars per bag of 50 kilos on Thursday, Nov 30th. Some mills increased their supply, which results in a devaluation of 2.77 percent (in dollar) of the Index (Sao Paulo state) in the accumulated of the month.
Due to the stability at the end of the month in the domestic market and the decreasing international prices in (Liffe), the advantage returned to Brazil. According to Cepea, the domestic market (Sao Paulo state) remunerated 3 percent more than exports last week.
A great deal of mills had already finished the process of 2006/07 crop. According to Unica (Sao Paulo Sugar Cane Agro industry Union), 95 percent of the total crop production had already been processed in the Center-Southern region, totaling 351.50 percent. This region accounts for around 80 percent of the total sugarcane produced in Brazil.