According to experts at the Opening of Safra Cana event on March 11, the expectation of the global market is based on a slight deficit in the 2021/22 harvest year and should keep sugar prices stable for producers. The participants of the event were Maurício Sacramento, Cofco’s sugar executive; Ulysses Carvalho from Sucden; and Ivan Melo Filho, from DATAGRO Financial. According to Carvalho, sugar prices have recorded historic highs. Sacramento says that sugar and ethanol are well-paid products. According to Mello, the advance in the control of the covid-19 pandemic, on a global level, signals that the sugar market may register an increase in consumption by 1.5%. Melo Filho (DATAGRO) explains that China should remain as one of the major importers in this new season.
Source: Universo Agro / DATAGRO
*Translated by Ia Niani