FlashMarket n°20 - 15/05/2009
After rising sharply in the last few weeks, sugar prices fell again at the weekend. On 15 May, raw sugar was selling at 14.95 cts/lb (329.5 $/t) for July settlement dates, with white trading at 429 $/t for delivery in August. In parallel to this drop in prices, on the exchange markets the dollar fell against most currencies, particularly the euro and the Brazilian real. The upshot of this is that producers will effectively be receiving less for their output (P.8).
On the energy raw materials markets, the firming up of oil and gasoline prices helped to push up the price of ethanol (P.5). On the US market, the hike in ethanol prices has benefited from the very good performance of maize prices (P.6). However, the slight rise in prices on the Brazilian market is primarily due to the depreciation of the dollar. Ethanol prices are stable on the Brazilian market in local currency.
Freight prices have recovered also, while fertiliser prices have dropped (P.9).
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