Cepea, April 2, 2025 – The 2024/25 season finished officially on March 31st, and crystal sugar prices were low at the end of the month. Players from some mills in São Paulo state were more flexible regarding prices, trading the Icumsa 180 at lower values, but with higher prices for the Icumsa 150. As a result, crystal sugar price averages oscillated from BRL 137 and 139 per 50-kg bag in late March in the spot market in São Paulo.
From March 24-28, the CEPEA/ESALQ Index (Icumsa 130-180) averaged BRL 138.58/bag last week, downing 0.18% compared to that verified in the previous period (BRL 138.83/bag between March 17 and 21).
As for the season (from April/24 to March/25), the CEPEA/ESALQ Index averaged BRL 152.06 per 50-kg bag, downing 4.73% compared to that in the previous crop (BRL 159.62/bag from April/23 to March/24), in real terms (values were deflated by the IGP-DI).
From March 24-28, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar closed at BRL 138.58 per 50-kilo bag, while the average of the May/25 contract at ICE Futures closed at 139.61 BRL per bag. Thus, exports remunerated 0.75% more than sales in the spot market of SP did. This figure considered weekly averages at USD 59.82 per ton of freight and charges, USD 88.23 per ton for quality premium and dollar at BRL 5.7406.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
