Brazil's sugar output plunges 80% — Unica
Sugar production in Brazil's Center-South for the first two weeks of the 2022-23 season showed a drop of 79.99% year on year at 126,627 tonnes, data from trade association UNICA showed April 28.
It is reported by S&P Global Platts.
The figure was lower than the consensus expectations of 278,900 tonnes from 10 analysts surveyed by S&P Global Commodity Insights.
Mills in CS Brazil crushed 5.19 million tonnes of sugarcane in first-half April, down 66.87% year on year, UNICA said.
«The reduction in the cane crush for H1 April was because lesser mills were in operation compared to the prior season due to an average 15-20 day delayed start to the harvest because of suboptimal weather induced poor cane maturation», — a Sao Paulo-based trader said.
Sugar's share of the crush for H1 April was 25.95% compared with 38.80% a year earlier.
A total 85 mills were operating as of April 16, 64 less than in the same period of 2021. Market participants expect another 104 mills to begin operation in second-half April.
Total recoverable sugar, or ATR, in H1 April was 98.66 kg/mt, a decrease of 9.72% year on year.