Expectations about the global sugarcane mills market

On the third day of the sixth edition of Agri Week, an event by Safras & Mercado focused on the prospects for the agricultural sector in the 2023/2024 harvest, there was a panel entitled "Sugar and Ethanol Market: Impacts of El Niño in the sugarcane off-season for 2023/24 season and forecasts for the 2024/25 harvest". During this panel, consultancy analyst Mauricio Mucuri highlighted the challenges that will be faced in the next cycles in the sugar and ethanol industry. “Our perception is that El Niño is a very random phenomenon. In 2016, we had a very strong El Niño, with a rise of 2.5 °C in temperatures in the Pacific Ocean, and, even so, we had a harvest within the normal range for sugar cane during the period, without failures. So, the big detail is the standard El Niño that we should have, within the average, very different from the ‘monster El Niño’ recorded in 2016”, he explains. In 2023, the global sugar market faces challenges due to adverse weather conditions, including ...