Sugar market considers figures from the Brazilian sector and ends the day on a positive note

Published 2024년 12월 27일

Tridge summary

International sugar contracts for March/25 closed at 19.41 cents per pound, showing an increase of 0.78% due to the Brazilian harvest. The harvest has seen a decrease in sugarcane processing, with mills processing 20.35 million tons in the second half of November, a 15.2% drop compared to the same period in the 2023/2024 harvest. Productivity has also been impacted, with a reduction in average production and raw material quality. India's Food Secretary announced the possibility of sugar exports if there is a surplus, and the devaluation of the Brazilian real is encouraging sugar exports by domestic producers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This Friday afternoon (27), international sugar contracts closed the day higher. The March/25 contract closed at 19.41 cents per pound, representing an increase of 0.78%. This movement reflects the Brazilian harvest, which, according to the latest report from UNICA (Sugarcane and Bioenergy Industry Union), showed a decline in sugarcane processing. In the second half of November, mills in the Center-South processed 20.35 million tons, compared to 24 million in the same period of the 2023/2024 harvest, which corresponds to a drop of 15.2%. In the accumulated total of the 2024/2025 harvest up to December 1, milling reached 602.94 million tons, a reduction of 2.75% compared to the 619.97 million tons recorded in the previous cycle. Furthermore, data from the Sugarcane Technology Center (CTC) indicate that productivity has also been impacted. Up to November, average production fell from 88.1 tons per hectare in the previous harvest to 78.6 tons per hectare this season, a reduction of ...

Source: NoticiasAgricolas