The August 2014 RV price for the 2014/15 season, in respect of cane delivered in July 2014, was declared at R3 300.12 per ton. This represents a decrease of R30.34 per ton compared with the previous price (cane delivered in June2014). The main reason for the lower RV price was reduced export revenue predicated by the softer trend in world pricing and a firmer R/US$ exchange rate. The spot No.11 price declined by 1.40 c/lb (16.02 vs. 17.42), while the spot R/$ exchange rate firmed to 10.60 from the previous level of 10.72. The 39 341 tons drop in the sugar production estimate was a positive influence but the effect of the lower world market price was dominant. At this stage 54.3% of the estimated export availability is unpriced and 54.9% of the estimated dollar revenue is uncovered.
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