05.Jun.23 Trends & Analysis | Issue 107 - 23 | June 06%, 2023, VP (USS/) 574.30 The raw sugar market started the week by extending losses, with the July 2023 screen giving up another 33 points on Monday to US$ 24.40 c/lb 2s supply concerns began to ease slightly, both due to the good pace of crushing operations in the Center-South of Brazil and the beginning of the monsoons in Thailand, although it is still too early to say that the rains in 2023 will not be impacted by El Nifo. In any case, at least for now, the climate remains predominantly dry in the Center-South of Brazil, allowing the mills to “step on the accelerator” while registering better ATR indices, while Thailand continues to receive heavy rains since second half of May and with forecast of very rainy weather for the next two weeks. On the other hand, even though weather conditions have improved in recent weeks in Thailand, there are reports that the regrowth areas were damaged by the drought between January and early May, not forgetting the reduction in area due to the increase in cassava planting. In Brazil, the main concern at the moment is with the logistical issue of transporting sugar through Santos and Paranagud, bearing in mind the beginning of the 2nd harvest of corn, which should be a record this year. In India, the monsoons are still delayed, with much of the country not expected to receive rain until June 11th. Only from the 12th of June onwards will the monsoons begin to emerge in India, still in time to avoid losses in the cane fields for the 23/24 harvest. The sugar market may have lost its consolidation around 25 cents, but as El Nifo is stl an imminent risk for the definition of the 23/24 harvest in the Northern Hemisphere, itis still premature to imagine that NY has definitely turned the tables this time of the year. DATAGRO @ Market Monitoring CBio Generation Thousand CBios * OIL: The price of WT! oil registered a small reaction this Monday, to US$ 72.15/bartel (+0.6%), after Saudi 3500 m021 Arabia's announcement to cut production by 1 mbpd e202 12022 for at least a month, the from July, in a unilateral step 3,000 to try to avoid further price declines. * BRAZIL J: Due to the appreciation of the Real against 750° the dollar, the average price of gasoline at Petrobras, refineries ‘continued to be 7.6% below the import 2000 parity, according to DATAGRO'Ss estimate. * BRAZIL II: According to ANP data, the price of hydrous" ethanol at the pump remains competitive compared 4. to gasoline only in the state of Mato Grosso (67.18%). In the state of Sio Paulo, hydrous ethanol was sold at gas stations for an average price of R$ 3.63/liter, down 2.42% compared to the previous week, while ° gasoline was sold at RS5.07/liter, down 1.75% - the ratio between prices fell from 72.51% to 71.60%. Jan Fey Mar Abr Mal Jun Jul Ago Set Out Nov Dez Source: ANP, elaborated by DATAGRO Indonesia’s Sugar Imports 000 metric tons = BRAZIL Ill: The generation of Decarbonization Credits (CBios) reached 2.997 million in May, a volume just 0.6% below that generated in May last year. From January to May, the generation of CBios reached +000 13.660 million credits, an increase of 11.1% over the 00 same period of 2022. 52020 2021 00 = INDONESIA: Sugar imports continue to fall in 2023. In April, 378,990 tons of sugar were imported, down 22.0% compared to April 2022, thus being the lowest 600 2023 imported volume for the month of April in the last five years. From January to April, Indonesia imported °° 1.983 million tons of sugar, a reduction of 23.1% over the same period last year. Thailand was the main origin of sugar imported by Indonesia between January and May, with 1.560 million tons or 78.2% of | the total, followed by India (238,818 tons or 12.0%), and Australia (183,000 tons or 9.2% of the total). of Jan Fev Mar Abe Mai Jun Jul Ago Set Out Nov Dez Source: 8°S, elaborated by. 2022 700 8 8 88