BRAZIL: Sugar prices fall to levels last seen in June 2016
Published: 02/08/2017, 5:18:52 PM
Crystal sugar prices in São Paulo's spot market continue to fall to levels last registered in June 2016, according to Brazil's Centre of Advanced Studies on Applied Economics (Cepea), reports Sugaronline.
A bag of 50 kilograms of crystal sugar closed at BRL84.13 (US$26.95) on Tuesday (07), down 1.77% since the beginning of the month. In June 2016, crystal sugar was negotiated on average at BRL84.85 (US$27.19).
According to Cepea, the price decrease is related to mills responding to a general retreat by buyers in the market.