Brazil sugar production up 31.2% in early August, says UNICA
SAO PAULO, Aug 24 (Reuters) – Brazil’s center-south sugar production rose 31.2% in the first half of August when compared with a year earlier, totaling 3.46 million metric tons, data from industry group UNICA showed on Thursday.
UNICA said in a report that 47.87 million tons of sugarcane were crushed in the period, up 23.4% from a year ago, despite some time lost due to unfavorable weather in the region, which is Brazil’s main sugarcane belt.
“It is worth noting that occasional rains jeopardized harvesting operations in some parts of the center-south,” the group said in a statement.
“That serves as an alert so we don’t forget the risks arising from the El Nino climate pattern, whose uncertainty still hangs over the potential crushing in 2023/24,” it added.
Brazil has been reporting strong agricultural yields this cycle, boosting output of both sugar and ethanol even as mills allocate more cane to production of the sweetener to take advantage of higher prices.
In July, UNICA said, yields jumped 24.1% year-on-year.
Total ethanol production in the region, the group added, totaled 2.35 billion liters in the fortnight, a 16.4% increase. The data also considers biofuel made from corn.
Brazil is the world’s largest sugar exporter.
(Reporting by Gabriel Araujo; Editing by Kylie Madry)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))
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