Brazil's sugar cane crushing seen at 606.5 mln t — Datagro
Brazil's sugar cane crushing for the 2023/24 season is expected to increase to 606.5 million metric tons from 598.50 million metric tons previously estimated, consultancy Datagro said on Thursday, as the cane fields are favored by steady rainfall.
It is reported by Nasdaq.
"Brazil is still gaining tonnage due to the good volume of rainfall observed until early May," which has favored the conditions of cane fields to be harvested at the final stretch of the season, Datagro Crop Survey's agronomist team said in a statement.
The group added that there are initial signs that the mills "will spare no efforts to maximize crushing operations as well as the mix for sugar production this season."
Brazil's sugar production for the 2023/24 season is seen at a record 39.1 million metric tons, topping the previous record of 38.47 million tonnes in the 2020/21 season, Datagro added.
Ethanol production from sugarcane and corn was estimated at 31.19 billion liters, a 7.9% increase compared to the previous season due to a boost in corn-based biofuels, the consultancy said.
Production of biofuels made from corn is likely to jump 21.8% from the previous season to 5.4 billion liters, it added.
According to the consultancy, mills have been reporting daily crushing records in an attempt to avoid work stoppages if forecasts of rains related to the El Nino weather phenomenon materialize.