The July 2014 RV price for the 2014/15 season, in respect of cane delivered in June 2014, was declared at R3 330.46 per ton. This represents a decrease of R7.10 compared with the previous price (cane delivered in May 2014). The main reason for the lower RV price was an increase in the annual rebates budget. Other negative impacts were the 509 tons increase in sugar production (2 290 656 tons vs. 2 290147 tons), the lower sugar:RV ratio (94.06% vs. 94.42%) and the slightly firmer spot R/$ exchange rate (10.72 vs. 10.76). The only positive impact on the price was the firmer weighted average world market price (17.73c/lb. vs. 17.30c/lb.),
which did contain the drop in price to R7.10. At this stage 57.0% of the estimated export availability is unpriced and 62.2% of the estimated dollar revenue is uncovered.
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