Raízen, the world’s largest sugarcane processor, anticipates stable sugarcane crushing of 82-85 million tons in the upcoming harvest, mirroring last season’s performance. Despite a less favorable climate, the company achieved a record 84.2 million tons in the 2023/24 harvest, a 15% increase from the previous year. Raízen attributes this stability to investments in agricultural efficiency. While facing lower-than-expected profits for the 2023/24 season due to reduced tax credits and ethanol prices, the company’s ethanol and sugar stocks surged by 76% and 91%, respectively. Raízen’s CEO remains optimistic about sugar prices despite recent declines, citing global demand growth and Brazil’s pivotal role in supply. However, sugar production forecasts for 2024/25 were not disclosed.
Source: Nova Cana
RAÍZEN PROJECTS STABLE SUGARCANE CRUSHING IN 2024/25 AND CARRIES MORE SUGAR STOCKS
Published On - 16 de May de 2024