Lower Sugar Prices triggers Price Change on Citrates
On August 9, 2017, the Ministry of Foreign Trade published a notice adjusting the Price undertaking on Brazilian imports of citric acid, sodium citrate, potassium citrate and calcium citrate produced by Chinese companies COFCO Biochemical, Anhui BBCA, Maanshan Biochemical, RZBC, RZBC (Juxian) and exported to Brazil directly or through the trading RZBC Import and Export.
The adjustment was based on the variations of sugar price that have occurred during the second trimester of 2017, which dipped to 14,62 US$/lb, after having an average of the first trimester of 2017 (18,24 US$/lb). The correction factor applied over the committed price was 0.9207545. Therefore, CIF prices of exports of the aforementioned products cannot be lower than US$ 1.257,32/t.
The measure will come into force in 30 days from its publishing.