Brazilian mills in the Center-South region are planning to increase their sugarcane crushing season for the 2023-24 harvest beyond the traditional closing period in November. The move is in response to the record harvest expected, with an estimated 630 million tons, and raw sugar prices at a 12-year high. The mills will continue to operate until December 10-15 to benefit from the record harvest. Investment from the sugarcane industry in raising the productivity of the sugarcane field has been profitable for this harvest, thanks to beneficial rains. However, the extension of the harvest may cut short the off-season and bring forward the start of the next season (2024-25). Many mills are expanding sugar production capacity to take advantage of the favorable prices, as there is a global deficit in the sugar market due to the drop in production in other countries. In the future, the sector is likely to invest in boosting sugar production capacity.
Source: Nova Cana. (*Translated by Ia Niani)