Low supply sustains prices

Brazilian sugar supply has been restricted, giving support to domestic price levels. The CEPEA/ESALQ Index for Crystal Sugar averaged 50.80 reals per bag of 50 kilos or 23.30 dollar per bag, until July 12th, showing a small 0.7 percent reduction through the month. It is interesting to keep in mind that this is the cane harvest period in Center South Brazil, when prices usually decrease.

Price parity calculated by Cepea indicated that exports have provided better remuneration than domestic market prices, contrary to what had prevailed since the beginning of June.

According to Secex, Brazilian sugar exports reached 1.818 million tons in June, which shows an increase of 94.1 percent in relation to May. Last year, in this same period, export volumes were 1.8 percent lower



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