Brazil’s sugar exports remained high in May. According to data from the Foreign Trade Secretariat (Secex) of the Ministry of Economy, 2.7 million tons of the sweetener were exported last month. In comparison with April, there was an increase of 50.8%; there was also an increase when compared to the same period last year (4.6%). The average price of sugar was US$ 319.27 per ton, a drop of 2.9% over April, yet it increased by 15.2% year-on-year. In May 2020, the average price closed at $277.20 per ton. As a result, total income from sugar in May was US$ 860.61 million, up 46.5% from the previous month. Raw sugar represented 2.48 million tons of the total traded in May, closing the period with an average price of US$314.44/t and a monthly revenue of US$780.05 million, an increase of 67.54% over the last month. Refined sugar was 215,000 tons of the total, exported at US$375.07 per ton and yielding US$80.57 million, down 33.91% from April.

Source: Nova Cana (*Translated by Ia Niani)