From April through July, center-south cane crush was down 7 percent YOY. Sugar production was down 13 percent YOY at some 16.0 MMT, while ethanol manufacturing was down 4 percent YOY at 13.7 billion liters.

The cumulative sugar share of cane use was 44 percent, down from 46 percent a year prior. The sugar share in the second half of July alone was nearly 48 percent, however, up from 46 percent a year prior.

As center-south cane crush ramped up, July exports were 2.87 MMT, up 16 percent YOY. Brazilian exports from April through July totaled 8.09 MMT, down nearly 15 percent YOY and down about 4 percent from the five-year average for that period.

Sugar pricing in Brazil has trended higher in the last two years but saw a correction lower in June and July. Average August pricing, near USD 0.22 per pound, is up about 1 percent YOY. In recent seasons, sugar pricing typically appreciated from August through November.

Brazil monthly sugar exports

Source: UNICA, McKeany-Flavell