Domestic sugar sales in Brazil, the world’s largest producer, were 1.1 percent more profitable than exports in the week ended Nov. 16, depressing prices, according to University of Sao Paulo research group Cepea.
Local prices for crystal sugar, which accounts for 68 percent of all sweetener sold within Brazil, slid 1 percent in the week ended Nov. 16 to 50.60 reais ($24.33) a 50-kilogram (110 pounds) bag, from 51.12 reais the previous week, according to the report.
Making crystal sugar from cane was 29 percent more profitable than producing anhydrous ethanol, the type blended into gasoline, and 36 percent more advantageous than hydrous ethanol, used in flex-fuel cars, Cepea said.
To contact the reporter on this story: Marvin G. Perez in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Steve Stroth at email@example.com