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- (-) April 2016
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The EU-28 sugar production for food purposes for MY 2016/17 is forecast at 16.5 million MT in raw sugar equivalent (RSE), with another 0.9 million MT produced for industrial purposes.
Brazil’s MY 2016/17 sugarcane crush is estimated at 680 mmt, a two-percent increase compared to the previous season due to good weather conditions that favored steady development of sugarcane stocks.
Post forecasts 2016/17 soybean production at 103 million metric tons (mmt), an increase of three percent compared to the current season.
Post forecasts cotton planted area for 2016/17 to increase to 980,000 hectares based on higher domestic prices and export demand.
The weak Brazilian currency and high inflation, fueled by an uncertain political atmosphere, will have a large impact on all producers in Brazil.
Excise Tax on Industrialized Products (IPI) on alcoholic beverages was changed from an ad rem to an ad valorem system.