Brazil sugar firm Sao Martinho cuts view for cane crush growth
Brazilian sugar and ethanol company Sao Martinho SA cut its estimate for cane crush growth in the new season that starts in April to 5% from 10% expected in December due to below-average rains in the center-south region.
It is reported by Reuters.
Sao Martinho’s Chief Financial Officer Felipe Vicchiato said that it expects sugar prices to improve in coming months due to expected reductions in production in India and Brazil. The company said it will only decide about the sugar and ethanol production mix in April, when the next crop starts, depending on market prices.