The October 2014 RV price for the 2014/15 season, in respect of cane delivered in
September 2014, was declared at R3 374.04 per ton. This represents an increase of R99.73 compared with the previous price (cane delivered in August 2014). There were a number of reasons for the increase, which more than compensated for the declining price trend that has been evident since the start of the season. Firstly, the LMDE was reviewed and adjusted upwards by 98 449 tons. Secondly the guaranteed crop estimate indicated a 73 263 ton reduction in sugar production, which favourably influenced the price. Other factors that had a positive effect on the price were the 2.4USc/lb increase in the spot No.11 price and the weaker spot R/$ exchange rate, which softened by R0.21 from R10.96 to R11.17.
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