According to hEDGEpoint Global Markets’ analysis, there could be a record-breaking sugarcane crushing of 651 million tons in the 2023-24 crop year. They predict that the exports will increase in the 2024-25 harvest to 33.5 million tons, the best result in recent years. Although the market is balanced with a small surplus, the weather conditions, including a possible La Niña, remain crucial. The forecast of a significant output in the United States and Central America, along with potential severe weather effects, may have an influence on sugar prices in the medium-long run.
Source: Jornal Cana (*Translated by Ia Niani)
SUGAR EXPORTS LIKELY TO BE HIGHER IN THE 2024-25 CROP YEAR
Published On - 1 de February de 2024