February 2023/24 RV Price Commentary

The eleventh provisional RV Price for the 2023/24 season, which is payable by 29 February 2024, has been declared at R7 426.88 per RV ton. This value represents an increase of R82.79, per RV ton, compared to the previous RV Price estimate.

The chief contributor to the higher monthly price estimate is the recovery of, and forecasted, stronger weighted-average season No. 11 world sugar price (US25.55c/lb. vs US25.08c/lb.). Other positive price elements included a higher sugar to RV ratio (93.37% vs 93.33%), a weaker season weighted-average estimated Rand to US Dollar Exchange rate (R19.16/US$ vs R19.08/US$) and a reduction in the industrial costs estimate (R742m vs R754m). Negative price factors, which partly mitigated a further increase in the RV Price estimate, included an increase to the gross sugar production estimate (2.020mt vs 2.018mt).

February 2023/24

January 2023/24

December 2023/24

November 2023/24

October 2023/24

September 2023/24

August 2023/24

July
2023/24

June 2023/24

May 2023/24

April 2023/24

Final 2022/23


Final 2021/22


Final 2020/21


Final 2019/20

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