Cepea: Crystal Sugar Prices Rebound in São Paulo Mills at Month's Start

At the beginning of July, crystal white sugar prices in the São Paulo spot market have shown a localized recovery. According to researchers from the Center for Advanced Studies on Applied Economics (Cepea) at Esalq-USP, this upward movement is primarily driven by two factors: recent rainfall, which has temporarily halted production activities at mills, and emerging signs of a rebound in international commodity values. While prices have reacted positively this month, Cepea noted in a statement that the average prices last week still registered a decline compared to the previous period. This suggests that uncertainty regarding the trend of spot market values persists. Specific data indicates that on Friday, July 3rd, the Cepea/Esalq Crystal Sugar Index, for Icumsa color 130 to 180, stood at R$ 93.59 per bag. This value represents a 1.4% increase from the R$ 92.31 per bag recorded at the end of the previous week, signaling a short-term positive shift. However, market participants are advised to continue monitoring the broader economic environment, weather patterns, and global sugar supply-demand dynamics for a comprehensive assessment of future price trajectories.