Brazil’s center-south crush from April through June reached 229 MMT of cane, up about 5 percent YOY and up about 9 percent from the five-year average. For the season to date, the sugar share of cane use is 46.4 percent, up almost 12 points from the sugar share a year prior.
Thanks to that elevated sugar share, center-south sugar output reached 13.30 MMT, up nearly 13 percent YOY.
Ethanol production is down almost 7 percent YOY at 10 billion liters. Hydrous ethanol production is down about 4 percent, while anhydrous ethanol is down nearly 13 percent.
We currently estimate all Brazilian output for 2019/20 at 35.75 MMT of sugar, up from 2018/19’s volume of 29.37 MMT, a 13-year low. For 2020/21, production could recover further to more than 38 MMT.
Trade estimates suggest that Brazilian exports from April through June were over 7.1 MMT, up by almost two-thirds YOY.
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