New York: Sugar production in Brazil’s centre-south (CS) for the 2021-22 season is likely to fall to 32.5 million tonnes from an earlier prediction of 34.1 million tonnes due to drought and frost, said food trader Czarnikow.
According to the news agency Reuters, Czarnikow stated that the cane crop in Brazil’s CS region may fall to 520.4 million tonnes from 534.8 million tonnes seen in June.
Frosts and drought in Brazil have impacted the sugar sector in the country. And as a result, there will be a drop in the supplies of sugar from Brazil. This also provides opportunities for India to export raw sugar.
As per the news report, buyers are securing supplies by signing contracts in advance from the South Asian country.