Cepea, May 3, 2021 – The harvesting of the sugarcane from the 2021/22 crop began in central-southern Brazil in April, however, until the end of the month, not all mills were producing sugar, since this season began later.
Thus, the supply of crystal sugar continued low in the Brazilian market, underpinning prices in the spot market of SP. The mills that were already producing crystal sugar were prioritizing the delivery of the product previously purchased. International valuations also helped to underpin quotes in the Brazilian market.
Between March 31 and April 30, the CEPEA/ESALQ Index for crystal sugar rose by 8.38%, to 112.88 BRL (20.77 USD) per 50-kilo bag on April 30.
Despite this valuation in the domestic market, exports continued to remunerate more than sales in the spot of SP. It is worth to mention that Brazil is the number one sugar-exporting country in the world.