The September 2014 RV price for the 2014/15 season, in respect of cane delivered in August 2014, was declared at R3 274.31 per ton. This represents a decrease of R25.80 compared with the previous price (cane delivered in July 2014). The main reason for the lower RV price was a further softening in world market pricing, which saw the spot No.11 price drop sharply by 1.50c/lb (14.52 vs. 16.02). A further negative contribution came from the lower sugar:RV ratio (93.64% vs. 94.05%), The positive influence of reduced sugar production (2.231m tons vs. 2.251m tons) and the weaker spot R/$ exchange rate (10.96 vs. 10.60) were insufficient to offset the negative price factors. At this stage 47.9% of
the estimated export availability is unpriced and 41.1% of the estimated dollar revenue is uncovered.
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