The increase is predominantly due to a large increase in the LMDE (1.366m vs 1.292m). Other positive price factors included a further decrease in the gross sugar tons estimate (2.162m vs 2.184m). Negative price factors that to some extent offset the price increase included a weaker weighted average estimated world sugar price (13.26USc/lb. vs 13.35USc/lb.), a stronger weighted average estimated Rand to US Dollar Exchange rate (R17.08 vs R17.24), a lower molasses production estimate (0.843m vs 0.871m), a rise in the local sugar rebates budget by R18m, and a small decline in the Sugar:RV ratio (93.64% vs 93.67%).