Brazil: Sugar Semi-annual
Link to report:
Brazil’s Marketing Year (MY) 2022/23 sugarcane crop is estimated at 621 million metric tons (MMT), an increase of eight percent compared to the final estimate for MY 2021/22 (576 MMT), supported by better weather conditions vis-à-vis the previous year. Sugar prices remain attractive and sugar-ethanol plants have focused on sugar production as opposed to ethanol. Brazilian exports for MY 2022/23 are estimated at 28.2 MMT, raw value, an increase of 2.25 MMT relative to the previous season. Ethanol consumption has not recovered from pre-pandemic volumes and producers are likely to keep focusing on sugar production, therefore maintaining the sugar-ethanol production mix similar to the previous MY (45 and 55 percent for sugar and ethanol, respectively).
