Climate stabilizes, La Niña weakens, and sugar prices strengthens in Brazil
Sugar
Brazil
Published Mar 2, 2023
Tridge summary
The expressive rainfall volumes recorded in the last 30 days should remain in the first week of March. The La Niña phenomenon loses strength giving way to a period of climate neutrality. This forecast is recorded in the Agro Mensal newsletter published by Itaú BBA.
Original content
“The map shows the return of rains in MG, mainly in the south of the state, as well as in ES, in most of MT, RO and TO. In the south of the MS it should continue to rain a lot and mainly in Paraguay, while in the South Region the volumes will decrease”, points out the report. With regard to sugar prices, the document assesses that the reduction in the estimate for the Indian harvest has strengthened the prices of the product in New York. “Prices strengthened in late January and early February. The March/23 price ended the first half of the current month at cUSD 21.36/lp (2/15), up 8.3% compared to the last 30 days (1/15). The appreciation of prices happened after the reduction of the estimate of sugar production of the Indian harvest announced by ISMA (Association of Sugar Mills of India). READ MORE > Ethanol prices rose in the last week Currently, India's export policy provides for shipments of 6 million tons of the sweetener, and with the prospect of a reduction in production, ...
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