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:

Ads

You May Also Like

Bovespa, in São Paulo, Brazil's key stock index

Brazil and China: Two Places Where Stocks Are Jumping Crazy

In its latest issue Money and Markets discusses why Brazil, India, China (three of ...

Slavery Lives

Brazilian Indians who learned the Portuguese and received some schooling are being expelled from ...

One Year Later Relatives of Brazilian Slain by London Police Feel no Closure

Family and friends of a Brazilian man who was mistaken by London police officers ...

Lula and Chí¡vez Go Ahead with Brazil-Venezuela Gas Pipeline

The presidents of Brazil, Luiz Inácio Lula da Silva, and of Venezuela, Hugo Chávez, ...

Brazil’s Election Board Wants Cheaper Election Campaigns

The president of Brazil’s Federal Election Board (TSE), Minister Carlos Velloso, declared at the ...

A Brazilian Pledge: Lasting War on Deforestation

The President of the Brazilian Institute of Environment and Renewable Natural Resources (Ibama), Marcus ...

South Americans Shouldn’t Be Distracted by US Military, Says Lula in Bolivia

For the president of Brazil, Luiz Inácio Lula da Silva differences inside the Union ...

Brazil’s Indigo Maker Tear Tíªxtil in Expanding Mode

Brazilian textile mill Tear Têxtil Indústria e Comércio is going to invest 36.4 million ...

Study of a Murder in Rio, Brazil

This is the story of a “victim” of sorts, in the bawdy, colorful, often ...

LETTERS

For long considered a patrimony of Brazilian music, Francisco Buarque de Hollanda, better known ...