BRAZIL’S SUGAR PRODUCTION TO SEE MILD RECOVERY IN 2022/23 – ANALYST SAYS

Brazil’s center-south region is expected to produce 34.17 million tons of sugar in the 2022/23 season (April-March), just a bit more than the 33.06 million tons projected for the current cycle, according to sugar analyst CovrigAnalytics. During a presentation at a sugar conference organized by the information company Sugaronline, the analyst projected Brazil’s CS sugarcane crop at 552 million tons next season, versus 532 million tons this year, if weather returns to normal following a harsh drought. The sugarcane crop in the current season is expected to fall by more than 12% to the smallest in a decade, as harsh drought and frosts reduced production potential. Sugar analyst Claudiu Covrig said that crop renovation will be lower than normal for the new season, due to excessive dryness, which will prevent a larger recovery in production. He expects cane-based ethanol production to increase slightly next season to 24.32 billion liters and sees Brazilian sugar exports in 2022/23 growing to 25 million tons (raws plus whites) from 23, 9 million tons in 2021/22.

Sources: Reuters/New Cana (*Translated by Ia Niani)