Sao Paulo: According to data from shipping agency Cargonave, the average waiting time for vessels to load sugar at Brazil’s main export terminal in the Santos port have increased to around 45 days in the week ended on June 14. Whereas last week the waiting time was 41 days.
The waiting time was hardly five and seven days during the same period last year, according to the agency.
After coronavirus impacted the ethanol industry, sugar mills are diverting more cane towards sugar production. Due to which, sugar output increased massively in the country. The mills are diverting maximum cane to sugar production as the demand of ethanol continues to remain low due to lockdown. According to the media report, the ethanol industry in Brazil is badly affected due to Covid-19. The situation is such that producers are forced to sell ethanol at loss.
According to the Cargonave, other sugar terminals in Santos have delays as well. The Copersucar terminal, had a waiting time of only 10 days last week, although it increased to 13 days on Monday.
Brazil has registered more coronavirus cases and related deaths than any other country except the United States.
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