Brazil may reduce sugar production in 2024/25 MY
In the season 2024/25 MY in Brazil, sugar production may be lower than expected. It is reported by Reuters.
According to the published report of UNICA on sugar production in May, in the first half of the month the share of sugar cane used for sugar production amounted to 48.27%, which is lower than the expectations of international analysts S&P Global Commodity Insights at 51.73%. Lower sugar prices on the world market and rising bioethanol prices were the main reasons for maintaining a higher share of sugarcane for ethanol production.
If the ratio of sugarcane to ethanol remains below expectations for sugar, Brazil will produce less sugar this season than expected.
At the moment, the forecast for sugar production in Central and South Brazil is about 42.5 million tons, which corresponds to a record production volume in the 2023/24 MY.
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