FEBRUARY RV PRICE FOR 2011/12 SEASON

RV Price

Average RV Price per Ton	R 2 975,03
'd' Factor	0.387958

The RV price for 2011/12 in respect of cane delivered in January 2012 was declared at R2 975.03 per ton. The price was R18.56 per ton lower than the previous price (cane delivered in December 2011). Positive factors that impacted on the price were the 2 919 ton drop in sugar production (1 832 427 tons vs 1 835 346 tons) and the improved weighted average world market price (27.99 c/lb vs 27.93 c/lb). However the lower sugar:RV ratio (93.39% vs 93.59%) and the firmer weighted average R/$ exchange rate (7.47 vs 7.77) were the main contributors towards the overall decline of R18.56 in the RV price. Exchange rate and world market price volatility can still result in significant movement int he RV price at this late stage of the season because more than 50% of the export availability remains unpriced because the physical deliveries of export sugar to SAST have been below expectations. The final price for the 2011/12 season is expected to be R3 006 per ton.

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