According to Conab, Brazilian sugarcane output for the 2023-24 season could reach a record 677.6 million tons, a 10.9% increase over the previous cycle. Favorable weather and investment in the sugar and alcohol sectors led to this strong growth. The record production will boost both sugar and ethanol. Sugar production is expected to rise by 27.4% to 46.88 million tons. Ethanol production from sugarcane and corn is predicted to expand by 9.9%, reaching 34.05 billion liters. Sugar export optimism is supported by strong output and lower shipments from key competitors such as India and Pakistan.
Source: Canal do Boi