The JULY 2015 RV price in respect of cane delivered in JUNE 2015 was declared at R3 833.07 per ton. This represents a decrease of R34.34 compared with the previous price (cane delivered in May 2015). The decrease in the price is due mainly to the 59 096 ton reduction to the LMDE, which was precipitated by the 13.4% underperformance of first quarter industry sales. The negative impact of the LMDE reduction was cushioned by the drop in sugar production (1.714m tons vs. 1.754m tons), the firmer spot No.11 price (12.31 USc/lb vs. 12.01 USc/lb) and the weaker spot R/$ exchange rate (12.56 vs. 12.12).
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