Brazil's sugarcane crush to reach record volumes
Sugarcane processing in late July, as well as in early August, in Brazil's main sugar belt is expected to have reached record or near-record volumes as the weather remains mostly dry, favoring field work, according to analysts.
It is reported by Nasdaq.
Brazil's sugar industry group Unica will release production numbers for the second half of July on Thursday at 10h New York time.
A survey by financial data provider S&P Global Commodity Insights indicates sugarcane crush to have reached 51.47 million tonnes in the second half of July, 4.8% more than a year ago and one of the highest on record for a two-week period.
Sugar production was estimated at 3.58 million tonnes, 8.3% more than in the same period last season.
Mickael Attia, a crop analyst at forecaster EarthDaily Agro, said that only marginal sugarcane areas in Brazil's center-south region had any problems with rains late in July.
He said that the outlook is very good for harvesting and processing in the first half of August as well, with basically no expectation of days of operation lost due to rains.
The S&P survey indicated ethanol production in the second half of July at 2.42 billion liters, stable from a year ago.