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Agricultura

Higher supply presses down quotes; liquidity increases in BR

 

Cepea, June 4 2019 – Although ethanol production has been higher than sugar production this season, the refineries from São Paulo State are already making large sugar volumes available in the Brazilian spot market. Higher supply, in turn, pressed down crystal sugar quotes in May. Larger amounts of the Icumsa 150 and 180 crystal sugar were marketed in the spot during the month, due to a demand increase.

 

Between April 30 and May 31, the CEPEA/ESALQ Index (São Paulo State) dropped 8.6%, closing at 63.86 BRL (16.27 USD) per 50-kilo bag on May 31.

 

PRODUCTION MIX – According to Unica (Brazilian Sugarcane Industry Association) surveys, between April and the first fortnight of May, the refineries from SP crushed 48.724 million tons of sugarcane from the 2019/20 crop, with 61.76% allocated to ethanol production and 38.24%, to sugar production.

 

(Cepea-Brazil)

 

 

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