BRAZIL: Sugar price up in São Paulo's spot market
Published: 06/05/2018, 4:41:37 PM
Shipments of crystal sugar and the sugarcane crush in mills located in São Paulo's state, which had been suspended during a truckers' strike in Brazil during the last two weeks of May, have started to resume in the past couple of days, according to the Centre for Advanced Studies on Applied Economics (CEPEA), reports Sugaronline.
Sugar sales during the past week were limited to the spot market, involving only small volumes of the sweetener which in many cases were negotiated between mills and buyers located in the same region.
The withdraw of sugar purchases occurred at a slow pace in the past week.
Mills in São Paulo state increased prices for their offers from May 28-June 4, when CEPEA/ESALQ index for sugar (Icumsa 130-180) was up 5.3%, to BRL57.33 (US$15.33) per bag of 50 kilos.