CEPEA - Centro de Estudos Avançados em Economia Aplicada: "Sugar
Prices remain stables in the beginning of the season
In the first fortnight of April, Brazilian sugar market moved at a slow pace. The supply was low, helping prices to stabilize. For a while, there is no sugar of the new crop available in the spot market. Domestic and international buyers are waiting supply from Brazilian 2009/10 crop, expecting smaller values. The harvest in Brazil started officially in April 1st.
Between March 31st and April 15th, the CEPEA/ESALQ Index (Sao Paulo state) for crystal sugar upped slightly 0.4 percent, closing at 46.97 reals or 21.58 dollars per bag of 50 kilos on April 15th. However, according to ISO (International Sugar Organization), the international sugar deficit should reach 4.3 million of tons in 2008/09 season. The main reason is the lower production in China and India.
Regarding the price parity calculated by Cepea, the sugar remunerated 116 percent more than the anhydrous ethanol between April 6th and 9th. In relation to the hydrated, the sugar advantage was 134 percent more. In the same period, domestic trades (Sao Paulo state) remunerated 16 percent more than exports. (Cepea – Brazil)
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