Optimistic estimates for Brazil’s sugar production and export season 2023/2024

The consulting company Jobeconomia stated that sugar production in Brazil is expected to reach a record level in the 2023/2024 season, as production is expected to reach 42.7 million metric tons.

Job Economy attributed its optimistic forecast for production, which is higher than the 37 million tonnes recorded in the previous season, to favorable weather for crop growth and processing, according to ChiniMandi.

The company also expects exports to reach a record high of 32.2 million tons per season, 2.4 million tons more than its previous estimate, and compared to 27.1 million tons in 2022/23, with increased production due to several factors, including favorable weather conditions. , high sugar prices, and limited availability of sugar from other producing countries such as Thailand and India.

And the company stated that total ethanol production is expected to reach 32.9 billion liters, which is lower than previously expected, and higher than the production of 31.2 billion liters last season, as mills in Brazil allocate a near-record amount of sugarcane to produce sugar, and less than This is for the production of ethanol, with the high prices of the sweetener.

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