StoneX raises sugarcane crushing forecast for south-central Brazil

SAO PAULO (Reuters) - Sugarcane crushing in south-central Brazil is expected to grow 6.2% compared to the previous season, to 592.1 million tons, with the total approaching a productive record, estimated this Monday consulting firm StoneX, which raised its projection compared to January's number (588.2 million tons). According to a consultancy report, weather conditions are better for sugarcane plantations in Brazil's main producing region, after the gradual reduction in the intensity of La Niña. "Climate conditions began to improve for Brazilian sugarcane fields, and the last quarter of 2021 again registered a considerable increase in rainfall in the region, a scenario that lasted throughout 2022. Therefore, the sugar-energy market maintains the optimism shown in the harvest current cycle for the next cycle, which will start in the second quarter of 2023", he said. The consultancy said it had raised its productivity estimates from the figure projected in the January report. Thus, ...