Conab boosts forecasts for Brazil’s cane crop, sugar production
SAO PAULO, Aug 17 (Reuters) – Brazil’s sugarcane crop is expected to increase 6.9% in 2023/24 from the previous cycle to 652.9 million metric tons, government agency Conab said on Thursday, boosted by higher yields on the back of favorable weather.
Sugar output is seen reaching 40.9 million tons, up 11.1% from a year earlier, while sugarcane-based ethanol output was estimated at 27.72 billion liters, a 4.5% increase, Conab said in a statement.
All estimates came in above Conab’s April forecast, when the agency had estimated the sugarcane crop at 637.1 million tons. At the time, sugar output was seen at 38.77 million tons and ethanol production at 27.5 billion liters.
(Reporting by Roberto Samora; Writing by Gabriel Araujo; Editing by Kylie Madry)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))
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