Brazil: StoneX projects 35.2 million tons of sugar production in the 2023/24 harvest

Sugar production should benefit from favorable weather conditions and present growth in the next harvest, which presents a trend towards a more sugar mix, evaluated StoneX, during the consultancy's online seminar, last week. The forecast is based on the favorable climate for both producing regions, on the growth in productivity of the cane fields and on the significant growth of the sugar mix at the mills, presented in recent months. According to consultant Filipi Cardoso, the sugar mix in the current crop in the Center-South of Brazil should be 44.8%. READ MORE > Otávio Lage de Siqueira Filho, from Jalles Machado, is the Entrepreneur of the Year at MasterCana Brasil 2022 “We estimate that the sugar mix should return to 45% in 2023/24, that is, recover 0.2 percentage point. The Northeast region should be at 46% of sugar mix. This ends up bringing a greater production of sugar to the global market”, says Cardoso. “Parity tends to be more favorable for sugar, in our view, and this ...