Brazil: Sugar Semi-annual
Link to report:
Brazil’s Marketing Year (MY) 2019/20 sugarcane crush has been revised upward to 635 million metric tons (mmt) due to favorable weather conditions in the Center-south and the Northeastern growing regions. Continued low sugar world prices and the steady large demand for ethanol in the domestic market will likely lead to less sugarcane diverted to sugar production (35 percent of the total sugarcane output as opposed to 35.9 percent during the previous crop). Total exports for MY 2019/20 are estimated at 18.62 mmt, raw value, reaching the lowest level in the past twelve years. In July, the Brazilian government asked the World Trade Organization to establish a panel aimed at resolving its dispute over Indian sugar subsidies which have been hurting sugar exports to that country.
