Brazilian sugar company expects higher sugar production in 2020-21 season

Sao Paulo: Cosan SA, sugar and energy company from Brazil expects more cane in coming crushing season that begins from April this year as compared with last two season.

According to the reports, Cosan expects higher sugar production in Brazil in 2020-21 due to improved sugar prices in New York and a weaker Brazilian currency, which boosted forward sales by Brazilian mills.

Earlier INTL FCStone had stated that in the new season, mills in Brazil’s center-south region are expected to allocate more cane for sugar production as compared to the previous season due to the improved raw sugar prices in New York.

In the last two seasons, the falling prices of sugar in the international market has helped Brazil to emphasise more on ethanol production. The excess production of sugar kept the prices low, and the mills turned back to their favourite ethanol production as the gasoline prices have increased.

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