The higher global supply reduced domestic sugar prices in more than 40 percent in Real in the accumulated of this crop (2007/08) over the same period of the previous season - according to the CEPEA/ESALQ Index for crystal sugar (Sao Paulo state).
From April (crop beginning) until December, the Index averaged 25.90 reals or 13.30 dollars per bag of 50 kilos. The current average is the lowest one, in nominal terms, of the last six years. The highest value during this crop, of 34.85 reals or 18.25 dollars per bag, occurred at the beginning of April, was inferior to the minimum observed in the previous season (36.22 reals or 16.69 dollars per bag), when the Index reached 51.34 reals or 23.44 dollars per bag.
According to Unica (Sao Paulo Sugar Cane Agroindustry Union), the sugar crop production in Center-Southern region enlarged 1.6 percent during the 2007/08 crop over the previous one, totaling 26.2 million tons.