Brazilian sugar mills have finalized pricing for over 18.7 million tons of sugar for export by January 31, with an average price of 22.20 cents per pound. This translates to approximately R$2,516 per ton, reflecting a decrease of around R$50 per ton compared to previous estimates. Despite a reduction in contract volume in January, strategies such as acquiring put options and selling call options proved effective amid market volatility. Archer Consulting reports a 72% price-fixing rate by mills, with projections suggesting total sugar exports of 26 million tons for the 2024/25 harvest.
Source: Nova Cana
PLANTS HAVE ALREADY SET PRICES TO EXPORT MORE THAN 18.7 MILLION TONS OF SUGAR FROM THE 2024/25 HARVEST
Published On - 22 de February de 2024