Cepea, October 16, 2024 – White crystal sugar prices rose in the first fortnight of October in the spot market of São Paulo state. Between September 30 and October 15, the Index CEPEA/ESALQ Index for sugar (Icumsa from 30 to 180) upped 3.64%, closing at BRL 151.64 per 50-kilo bag on Oct. 15.
Price rises are still linked to the limited supply of sugar for prompt-delivery, although the demand continues stable. Many purchasers are operating with the product received through contracts closed in previous periods.
The recent wildfires, which reduced the productivity in cane crops, concern players about the availability of sugar for contracts that will be delivered in the 2024/25 offseason period. In case the lower volume is confirmed, crystal sugar quotations may surpass the record of the CEPEA/ESALQ Index, in nominal terms, of BRL 159.32/bag, verified on October 5, 2023.
Secex data indicate that Brazilian shipments totaled 3.954 million tons of sugar and molasses in September this year, for an increase of almost 24% comparing with the same month in 2023 (3.191 million tons).
(Cepea-Brazil)
