BRAZIL: Sugar price reaches record increase for November
Published: 11/28/2017, 5:15:51 PM
The price for crystal sugar (Icumsa, 130-180) at São Paulo's spot market registered a record increase for a month of November on Monday, appreciating 16.55%, according to the Centre for Advanced Studies on Applied Economics (Cepea), reports Sugaronline.
"This scenario is due to indications that the sugarcane crush will be finalized earlier this season," Cepea said in a note on its website.
Some mills have also reduced the volume of sugar sales in the spot market, prioritizing other contracts.
CEPEA/ESALQ index for crystal sugar (Icumsa, 130-180) closed at BRL67.46 (US$20.96) on Monday.