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Oil records high and boosts sugar prices

03/25/2020 | 16h31

WTI and Brent oil prices rose yesterday (24) and boosted sugar prices. In New York, raw sugar due in May / 20 was 11.27 cents per pound, up 23 points. The lots for July / 20 were sold at 11.11 cents per pound, up 21 points. The other contracts increased between 4 and 20 points.


Reuters yesterday published a note from Tobin Gorey, an analyst at the Commonwealth Bank of Australia. "It is likely that the market will remain highly correlated to oil prices in the short term. Sugar prices remain above what would be ethanol parity in Brazilian mills."


In London, white sugar futures contracts registered a slight drop only in the May / 20 batch, which was signed at US $ 338.90 per ton, down 1.70 dollars. The maturity for August / 20 was traded at US $ 333.00 per ton, up 70 cents on the dollar. The other contracts valued between 20 cents and $ 2.40.


Domestic market 

This Tuesday, in São Paulo, the 50 kg bag of crystal sugar closed at R $ 77.66, according to USP's Cepea / Esalq indicator. The devaluation was 0.08% when compared to the value of the previous day.



According to the Esalq / BM & FBovespa indexes, Posto Paulínia, hydrated ethanol registered another drop yesterday (24) and was negotiated at R $ 1,565.50 per cubic meter, down 2.82% compared to the previous day.

Font: T&B Petroleum/Press Office UDOP
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