Data released on Tuesday by the Brazilian government pointed out that sugar exports reached 4.2 million tons in October, a monthly record surpassing the 3.93 million tons registered in the same month of 2012. When compared to October 2019, shipments of the product increased by 119% in 2020. Sugar exports from Brazil, a major global exporter of the product, have gained from several factors, such as domestic production growth, lower supply in important competing countries, and a favorable exchange rate for shipments. By the fourth week of October, Brazil had already shipped 3.2 million tons, giving signs that it was on the way to setting a record.
Source: Reuters
*Translated by Ia Niani