Fires torch more Tereos sugar fields, raising worries for next crop in Brazil, the world's largest sugar exporter

Published 2024년 9월 17일

Tridge summary

A total of 10% of Brazilian sugar cane fields owned by French cooperative Tereos, covering 30,000 hectares and resulting in over US$18 million in losses, have been damaged by fires. This incident impacts the company, as the largest sugar producer and exporter in the world, and the second-largest sugar supplier in Brazil. The fires have affected approximately 1.7 million metric tons of Tereos' sugarcane and could potentially worsen in the next season due to dry weather and arson. Despite these setbacks, Tereos plans to meet its crushing target of 21 million tons of sugarcane in Brazil by 2024/25. The quality of the current crop may be affected, which could influence the allocation of cane for sugar production.

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

Original content

(Sept 17): Raging fires have burned 10% of Brazilian sugar cane fields belonging to French cooperative Tereos, a senior executive said on Monday, with losses so far estimated at more than US$18 million (RM77.35 million). Brazil is the world's largest producer and exporter of the sweetener, while Tereos is the South American country's second-biggest sugar supplier. Pierre Santoul, the Brazil country manager for Tereos, noted that some 30,000 hectares (74,100 acres) of its sugar fields had been burned, causing a 100 million real (RM78.05 million) hit. Speaking at an event in Sao Paulo, Santoul stressed potential impacts extending into next season. "Our concern now is not the 2024/25 harvest, it's really next year's (2025/26)," he said, adding that prolonged dry weather could make matters worse. The fires have torched fields responsible for around 1.7 million metric tons of Tereos sugarcane, according to Santoul. The cooperative operates seven plants in the country, all of them in ...

Source: Theedgemarkets