Brazil’s sugarcane crop projected to fall 8.5%, says USDA
April 19 (Reuters) -Brazil’s 2024/25 sugarcane crop is projected to fall 8.5% from the previous season to 645 million metric tons, a United States Agriculture Department (USDA) report said, due mainly to lower than normal rains.
In the report produced by the USDA attache in Brasilia, Brazil’s total sugar production in the new season that started in April was projected at 44 million tons from a revised upward projection of 45.54 million tons for 2023/24, a record.
USDA estimates that Brazil will export 34.5 million tons of sugar in 2024/25 versus a revised upward projection of 35.97 million tons in exports for 2023/24.
“Brazil’s sugarcane fields performed exceptionally well in the marketing year April 2023 to March 2024… However, the harvest in 2024/25 is not expected to follow the same upward trend, as unusual dry weather has disfavored sugarcane cultivation,” said the USDA in the report.
Despite the lower sugarcane crop, the USDA projected a larger planted area in Brazil for 2024/25 at 8.46 million hectares versus 8.35 million hectares in 2023/24.
Source Link : https://www.xm.com/research/markets/allNews/reuters/brazils-sugarcane-crop-projected-to-fall-85-says-usda-53817457
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