Sugar exports expected to break a new record in 2020/21

According to the 3rd Survey of the 2020/21 sugarcane harvest released this week by the CONAB (the national food-supply company), the current harvest of Brazilian sugarcane, 665.1 million tons, approaches the record set in 2015, when 665.6 million tons of cane were harvested. Compared to last season, a growth of 3.5% is forecast.

Sugar exports totaled 23.7 million tons in the first eight months of this 2020/21 harvest (April to November), 79.2% more than in the same period of 2019/20. In relation to the entire past cycle, the volume has already been 25% higher.

According to the state-owned company, the expectation is that the 2016/17 record will be broken when Brazilian shipments reach 28.3 million tons.

External ethanol sales increased by 49.2% from April to November, to 2.2 billion liters. Imports, in turn, decreased by 65.1%, to 306 million liters. According to CONAB, this drop is justified by the devaluation of the real against the dollar, despite a 14.3% reduction in biofuel production and domestic consumption due to the Coronavirus pandemic.

The chart below shows the history of Brazilian sugar exports month by month since January 2015:

Brazilian Sugar Exports (HS 1701) | Jan 2015 to Oct 2020 | WTMT

Source: DataLiner

The graph below shows the volume of each variety of sugar exported in the first nine months of 2020:

Brazilian Sugar Exports (HS 1701) by type | Jan to Sep 2020 | WTMT

Source: DataLiner (To request a DataLiner demo click here)

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