RV PRICE COMMENTARY - FEBRUARY 2024/25

The latest provisional RV Price for the 2024/25 season, has been declared at R7 754.14 per RV ton. This represents a small increase of R9.04 per RV ton, from last month’s price estimate. The minor increase is mainly due to an increase in the season weighted-average estimated No. 11 world sugar price (US21.38c/lb. vs US21.26c/lb.) and a decline in industry costs by R8m. The increase was marginally offset by a stronger season weighted-average estimated Rand to US Dollar Exchange rate (R18.63/US$ vs R18.71/US$) and a lower sugar to RV ratio (93.64% vs 93.66%). As all mills continue with their off-crop operations, there were minimal monthly production changes.