Cepea, May 19, 2025 – Average prices of white crystal sugar moved down in the spot market of São Paulo in the first fortnight of May. From April 30 to May 15, the CEPEA/ESALQ Index (Icumsa 130-180) decreased 4.1%, closing at BRL 138.02/bag.
Despite advances of both the harvest and processing activities of the 2025/26 season – officially started in early April –, the supply of Icumsa up to 180 sugar continues limited. Some mills prioritize the first batches produced to accomplish contracts involving this type of sugar. Moreover, the demand for immediate delivery is low.
From May 5-9, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar closed at BRL 141.66 per 50-kilo bag, while the average of the July/25 contract at ICE Futures closed at 124.71 BRL per bag. Thus, sales in the spot market of SP remunerated 13.59% more than exports did. This figure considered weekly averages at USD 58.22 per ton of freight and charges, USD 80.53 per ton for quality premium and dollar at BRL 5.6962.
Concerning exports, Brazil shipped 1.556 million tons of sugar and molasses in April, 17.7% lower than the volume verified in the same period of last year, according to Secex.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
