• Categories
  • Archives

Brazil Sugar Reaches 34 Million Tons, a Record, 20% of World’s Production

Brazilian sugarcane Brazil's Ministry of Agriculture, Livestock and Supply just disclosed that Brazilian sugar production should reach 34 million tons in the current crop, growth of 10% over the previous one. The estimate is by the coordinator of the Sugar and Alcohol Department at the Ministry, LuÀ­s Carlos Job, in a press statement.

According to the Ministry, the total is record and represents 20% of global production. Job pointed out that the expansion of the Brazilian crop was boosted by lower production in other nations, especially India.

"For local reasons, India, the second main producer in the world, had significant reduction in production over the last two years, and the country should have to import between six and eight million tons by late 2010," said Job.

The coordinator added that there was great reduction in global sugar stocks over the last three years due to the weaker crop in India. This also influenced the price of the commodity, which reached the highest level in 30 years, according to the Ministry.

In future, according to Job, there may be small recovery in production in India, the United States, Thailand, China and Mexico, which should push prices down. "In the futures market, the tendency is for gradual reduction in prices of sugar up to 2011. Sugar in bulk should drop from the current US$ 480/ton to US$ 390/ton and the refined variety, from US$ 540/ton to US$ 490/ton," said the coordinator, always according to the ministry.

With the current exchange rates, according to the ministry, the production of sugar should grow more than that of ethanol in the next two crops.

Anba

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Foreign Investors in Brazil’s Stock Market Triple

The Brazilian Institute of Geography and Statistics (IBGE) reports that this year there has ...

Brazilian Exports Reach US$ 111 Billion With US$ 30 Billion Surplus

Brazilian foreign sales totaled US$ 3.121 billion last week, a slight reduction when compared ...

Several Indexes Show Brazil’s Industry Confidence Dropping

Brazil's Industrial Confidence Index (ICI), as measured by the Getúlio Vargas Foundation (FGV), had ...

Revlon’s New Face

One of the strategies of Revlon’s new spokesmodel was to abbreviate her name from ...

Desert Sun Gets Gold from Reactivated Mine in Brazil

Canada-based gold mining company Desert Sun Mining Corp. poured the first gold from its ...

Is Brazil Growing Fast? Other Developing Countries Are Growing Much Faster.

According to the vice-president of Brazil’s National Association of Financial, Administrative, and Accounting Executives ...

Lula’s Going to Iran So Iraq’s Story Won’t Repeat There, He Says

Luiz Inácio Lula da Silva, president of Brazil, said that he will visit Iran ...

Brazil Starts World’s Second Biggest Wind Energy Park

The presidents of the Brazilian Development Bank (BNDES), Guido Mantega, and of the wind ...

Still No Explanation for Death at Sea of Thousands of Cattle Shipped from Brazil

The Brazilian Association of Livestock Exporters (Abeg) believes that the death of at least ...

Boeing 777-300ER with the TAM logo

Brazil’s TAM Becomes First LatAm Carrier to Fly the Boeing 777-300ER

Brazil's largest airline TAM and American aircraft manufacturer Boeing announced today  conclusion of a ...