ASR releases September price estimates
Sixty-nine dollars and eight cents: that’s the per-ton estimate for 2022 Sugar Crop as of Friday. In a letter to the chairmen of the BSCFA, the Corozal Sugar Cane, the Progressive Sugar Cane and the Northern Sugar Cane Growers’ Association, ASR’s Cane Farmer Relations Officer, Olivia Carballo-Avilez writes that this is the estimated average cane price for the 2022 crop and it also includes the more than 1.1 million dollars from the 2021 crop, which is now confirmed by the 2021 audited cane farmers certificate provided to the associations. Avilez adds that including the estimated payment for bagasse, which is close to 633 thousand dollars, the estimated average can price is 69 dollars and 64 cents. She explains in the two-page letter that the estimate is based on the final 2022 crop production figures of 123,287 tons of sugar and 41,462 tons of molasses. Carballo-Avilez spoke to Love News just before news time about the significance of this payment.
Some 50,274 tons of sugar will be sold to the EU as raw sugar to Tate & Lyle at an estimated price of just under 478 U.S. dollars per metric ton while another 13,763 tons of sugar will be sold in the local market – 10,185 tons of pure white sugar and 3,578 tons of local brown. 12,137 tons of molasses is also for the local market. Another 12,940 tons of sugar will be sold in the U.S. market for close to 648 US dollars per metric ton while 14,763 tons of bagged direct consumption sugar will be sold to Tate & Lyle at 600 dollars per metric ton. We will have more on this in the news tomorrow.