BRAZIL: Sugar prices up to high levels verified in August
Published: 11/07/2017, 3:44:24 PM
Average sugar prices calculated by Cepea/Esalq index in October have risen to the high levels verified in August 2017, data from the the Centre for Advanced Studies on Applied Economics (Cepea), reports Sugaronline.
Cepea/Esalq index for crystal sugar (Icumsa, 130-180) closed at an average of BRL54.64 (US$17.3) per bag of 50 kilos in October, up 4.25% from September, in São Paulo state.
Prices verified in August 2017 were at BRL54.42 (US$18.4) per bag.
Mills consulted by analysts at Cepea said prices were close to production costs in September, challenging sales. An increase in demand led to a boost in prices. Rainfall in São Paulo has also interrupted harvesting, sustaining high prices.
High prices continue to be observed at the beginning of November. From Oct. 30 to Nov. 6, Cepea/Esalq index closed at BRL60.25 (US$18.48) per bag, up 5.4%.