Brazil expected to achieve 50% of global sugar exports

According to estimates by the JOB Economia consultancy, Brazil’s 2023/24 season is expected to come to a close with record sugar production and exports, placing itself responsible for approximately 50% of the global sugar trade.

This promising projection is attributed to a huge sugarcane harvest and an increase in the allocation of raw materials for sugar production.

Sugarcane milling in the country, currently estimated at 660.6 million tonnes for 2023/24, surpasses initial expectations of 653.4 million tons. This increase of more than 51 million tonnes from the previous season is driven by favorable weather conditions that have boosted productivity.

According to the consultancy, sugar production in the world’s top producer and exporter is projected to be 42.7 million tonnes in the 2023/24 season, up from 40.4 million tons in the first forecast and 37 million tons the previous season.

Julio Maria Borges, Managing Partner at JOB, expressed optimism about the progress of the harvest, noting that sugarcane milling in Brazil will come close to the record set in 2015/16 when 667 million tonnes were processed.

Regarding Brazilian sugar exports, the season is also expected to achieve a record of 32.2 million tonnes, surpassing initial forecasts of 29.8 million tonnes and 27.1 million tonnes from the previous season. The last record export was in 2020 when 32 million tonnes were shipped.

The chart below provides a historical overview of Brazilian sugar exports measured in tonnes. The data is from the DataLiner maritime intelligence service.

Sugar exports from Brazil | Jan 2019 – Jun 2023 | WTMT

Source: DataLiner (click here to request a demo)

As for ethanol production, both from sugarcane and corn, estimates point to 32.9 billion liters in 2023/24, compared to the previous forecast of 33.5 billion liters and 31.2 billion liters from the previous season.

Borges mentioned that sugarcane ethanol production will be minimized at the mills to maximize sugar production. Additionally, he noted that corn ethanol will continue its growth trajectory, already representing 20% of the total ethanol production in the central-south region of Brazil.

Source: Ponta Porã Informa

To read the original news article, see: https://www.pontaporainforma.com.br/brasil-bate-recorde-na-producao-de-acucar-e-atinge-50-das-exportacoes-mundiais/

Sharing is caring!