The global sugar market hasn’t fully accounted for the production challenges in Brazil’s Center-South region this harvest, according to Raízen CEO Ricardo Mussa. He predicts firm prices due to low global sugar stocks. Mussa notes that early harvest productivity might decline further, which the market hasn’t yet reflected in prices. Additionally, difficulties in maintaining the sugar mix due to impurities are limiting production. Mussa emphasized that these factors could lead to sustained high prices. Despite focusing on the next harvest, Mussa sees potential for price increases due to these challenges.
Source: Nova Cana
RAÍZEN ASSESSES THAT THE MARKET HAS NOT YET PRICED IN DIFFICULTIES FOR SUGAR THIS HARVEST
Published On - 22 de August de 2024