Despite the greater demand in recent months, the average prices of hydrated and anhydrous ethanol in the 2023/24 harvest – officially closed at the end of March – fell compared to previous seasons, in real terms (deflation by the March IGP-M).
Calculations carried out by the Center for Advanced Studies in Applied Economics (Cepea) at Esalq/USP show that, from April 2023 to March 2024, the Cepea/Esalq Indicator for hydrous had an average of R$ 2.2397 per liter, a drop of 17 .5% compared to the previous season (2022/23) and a significant 30% compared to 2021/22. For anhydrous (spot mode and contracts), the average was R$ 2.5630 per liter, a decrease of 17.2% and almost 30% on a like-for-like basis.
In terms of volume sold by plants in the state of São Paulo, the total hydrous ethanol sold from April 2023 to March 2024 grew 24% compared to the previous season.
The months of January and March this year were the most representative in sales of the 2023/24 harvest, driven by the good competitive advantage of biofuel at the pumps.
The average spot prices for white crystal sugar in the state of São Paulo remained firm in the last official week of the 2023/24 off-season, at around R$145 per 50-kilo bag. According to Cepea researchers, low supply continued to be the main support factor. On the demand side, there was greater interest on the part of packagers in cash purchases.
On the international market, the price of demerara sugar reached its highest level since the end of February last week, on the New York Stock Exchange (ICE Futures). Doubts regarding supply in the next harvest and the increase in external oil prices may have influenced the increase.
