Brazil's sugar production to see mild recovery in 2022/2023 — CovrigAnalytics
Brazil's center-south (CS) region is seen producing 34.17 million tonnes of sugar in the 2022/23 season (April-March), just a bit more than the 33.06 million tonnes projected for the current crop, according to sugar analyst CovrigAnalytics.
It is reported by Reuters.
During a presentation on Wednesday at a sugar conference organized by information company Sugaronline, the analyst projected Brazil's CS sugarcane crop at 552 million tonnes next season versus 532 million tonnes this year, if weather returns to normal following a harsh drought.
Brazil's CS sugarcane crop in the current season is projected to fall by more than 12% to the smallest in a decade, as a harsh drought and frosts reduced production potential.
Sugar analyst Claudiu Covrig said in the presentation that crop renovation will be lower than normal for the new season, due to excessive dryness, which will prevent a larger recovery in production.
He expects cane-based ethanol production to increase slightly next season to 24.32 billion liters and see Brazilian sugar exports in 2022/23 growing to 25 million tonnes (raws plus whites) from 23.9 million tonnes in 2021/22.