November 8, 2022
ChiniMandi | https://bit.ly/3Aq1bB1
Sugarcane crushing in the centre-south region of Brazil is likely to increase to 565 million tonnes from 545 million tonnes, said consultancy Safras and Mercado.
Total cane crushing in Brazil in 2023-24 is likely to reach 620.7 million tonnes compared to the current 600 million tonnes, expects the consultancy.
Sugar production is likely to grow by 8.3% to 39.04 million tonnes and export is likely to grow by 13%. Diversion of sugarcane to sugar will increase from 47% to 49% next season, expects Safras.
According to the Reuters, Safras believes Brazilian mills will allocate a near record amount of cane to sugar production next year at 49% versus 47% this season, as the sweetener continues to give better financial returns than ethanol.