Cepea, June 17, 2025 – Sugar prices continued to decrease in the spot market in mid-June, mainly pressed by the international devaluation. The CEPEA/ESALQ Index for sugar (Icumsa 130-180) closed at BRL 125.53 per 50-kg bag on June 13, the lowest level since October 11, 2022 (BRL 125.65/bag), in nominal terms. However, the Index increased to BRL 128.22/bag on June 16, dropping 4% in the first fortnight of June.
The supply of higher-quality sugar (Icumsa 150) remains limited in Brazil, and rains in early June interrupted the production. Not even this scenario was enough to support domestic quotations.
From June 9-13, Cepea calculations show that the weekly average of the CEPEA/ESALQ Index for white crystal sugar closed at BRL 128.34 per 50-kilo bag, while the average of the July/25 contract at ICE Futures closed at 115.20 BRL per bag. Thus, sales in the spot market of SP remunerated 11.4% more than exports did. This figure considered weekly averages at USD 62.21 per ton of freight and charges, USD 86.68 per ton for quality premium and dollar at BRL 5.554.
EXPORTS – Data from Secex indicate that Brazil shipped 2.257 million tons of sugar and molasses in May, for a decrease of 19.6% compared to that in the same month last year. In the accumulated of 2025 (up to May), exports amounted 9.526 million tons, 29.6% less than in the same period of 2024.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
