Sugar exports from Brazil should increase 15% in the 2023/24 crop year, which started this month, to 32.4 million tonnes, in the face of an increase in sugarcane crushing and favorable market conditions said, on April 25, the attache of the United States Department of Agriculture (USDA). The new Brazilian sugarcane harvest is forecast at 661.4 million tonnes, a volume 6.5% greater than the previous one. Of this total, 590 million tonnes should be produced in the country’s center-south axis, 46.1 million more than last season. “The sugarcane crop in the country’s center-south performed well in 2022/23 due to favorable weather conditions.” High sugar prices also ensured that farmers kept their marginal areas for sugarcane plantations, according to a report by the attaché. “The El Niño effect should cause intense rainfall in the second half of 2023, which could favorably influence the development of sugarcane crops,” it added.
Source: Money Times/Datamar News