Despite an El Niño forecast in 2023, rains continued in Brazil’s north and northeast regions. Rainfall between March and June was by the historical average for the period, according to DATAGRO, “favoring the development of sugarcane fields after the good rainy season in 2022, which also boosted sugarcane planting and regrowth last year.” As a result, DATAGRO has raised its forecast for sugarcane crushing in Brazil’s North/Northeast for the 2023/24 crop by 0.65% above the 2022/23 cycle volume. Sugar output in the region is likely to be “the highest since the 2012/13 harvest,” according to the entity.
Sources: DATAGRO/Universo Agro (*Translated by Ia Niani)