Cepea, February 4, 2025 – Crystal sugar prices decreased in January, the first month of the 2024/25 cane offseason period in São Paulo state. The CEPEA/ESALQ Index (Icumsa from 130 to 180) averaged BRL 155.31 per 50-kg bag last month, dropping almost 4% compared to December/24 (BRL 161.64/bag).
Purchasers pressed quotations down in January, leading players from mills to end up accepting lower values, especially when trades involved the Icumsa 180 product and larger amounts. On Jan. 28, the Index closed at BRL 149.63/bag, the lowest price, in nominal terms, since the beginning of October last year.
From January 27-31, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar (Icumsa 130-180) closed at BRL 151.12 per 50-kilo bag, while the average of the March/25 contract at ICE Futures closed at 135.74 BRL per bag. Thus, sales in the spot market of SP remunerated 11.33% more than exports did. This figure considered weekly averages at USD 58.60 per ton of freight and charges, USD 62.29 per ton for quality premium and dollar at BRL 5.8738.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
