RV PRICE COMMENTARY

The latest provisional RV Price for the 2024/25 season, has been declared at R7 309.22 per RV ton. This represents a decrease of R40.28 from last month’s price estimate.The lower RV Price estimate is largely due to a decrease in the season weighted-average estimated No. 11 world sugar price (US19.78c/lb. vs US20.74c/lb.).

Other negative factors included a marginal drop in the sugar to RV ratio (94.66% vs 94.72%). Positive price factors, which partly offset a further price decline, included a slightly weaker season weighted-average estimated Rand to US Dollar Exchange rate (R18.41/US$ vs R18.35/US$) and a lower gross sugar production estimate (2.053m vs 2.087m).