The NOVEMBER 2015 RV price in respect of cane delivered in OCTOBER 2015, was declared at R3 807.71 per ton. This represents a decrease of R6.04 compared with the previous price (cane delivered in September 2015). The decrease in the price is due mainly to the 15 681 ton reduction to the LMDE, which arose out of the underperformance of sales in October 2015. The 1 629 ton increase in gross sugar production (1 636 372 tons vs. 1634 743 tons) also contributed to the lower price. Despite fairly significant changes in the world market price (14.69 USc/lb vs. 14.00 USc/lb.) and the R/$ exchange rate (14.17 vs. 13.32) the impact on the price was minimal because of the relatively low export availability and the small quantity of unpriced sugar at this stage of the season.
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