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Analysis Sugar
Much less sugar production in Brazil reported
November 28, 2024 - Alex Jurvillier
The sugar prices on the ICE in New York and London ended higher on Wednesday. The latest news from Brazil's Unica could have been the price supportive factor.
Brazil's Unica reported about much less sugar production in Brazil's main production region during the first two weeks of this month, november. 59.2% less sugar was produced during that time, compared to the same period last year, amounting a total of 898,000 tons.
As a result, total sugar production since the beginning of the season is now 3% lower (38.274 million tons). Additionally, sugarcane processing was significantly lower in the first half of November, bringing the total processing since the start of the season 2.2% below last year’s level.
Alex Jurvillier
Alex Jurvillier is a market specialist in sugar and cacao at DCA Market Intelligence. He also monitors the milk supply in the most important dairy countries and keeps an eye on developments in food.
