Sugar production reached 2.86 million tons in early September, a 12.2% increase from the same period a year earlier, but below the 2.94 million tons expected by analysts surveyed by the financial information provider S&P Global Commodity Insights.
The figure establishes a total crushing of 39.49 million tons of sugarcane in the first half of the month, 2.5% more than the previous year.
“Despite the drop that has been seen in the figures accumulated so far, the current agricultural cycle should last longer (than in the 2021/22 campaign) thanks to a better development of the crops,” he said in a statement. technical director of Unica, Antonio de Padua Rodrigues.
“A larger number of plants are expected to remain in operation in November and December, which did not happen in 2021,” he noted.
Market participants had expected crushing to total 41m tonnes in early September, according to S&P Global.
Unica also reported that ethanol production in the period increased 2% to 2.12 billion liters, also including corn-based fuel, roughly in line with market forecasts. (Reporting by Gabriel Araujo. Editing in Spanish by Marion Giraldo)
Source: Ambito
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