Brazil’s Sugar Exports Surge in February
In February, Brazil saw a dramatic increase in its sugar exports, totaling 3.017 million tons of sugar and molasses over 19 working days, with revenues surpassing $1.58 billion.
This marked a significant leap, over 163% higher than the figures from February 2023, according to the Foreign Trade Secretary (Secex).
For the entire month, Brazil‘s exports in the sugar-energy sector reached 3.202 million tons.
By comparison, in February 2023, exports were 1.146 million tons, bringing in $524.67 million in revenue.
Daily exports averaged 158,822 tons, marking a significant 163% increase from the 2023 figure of 63,708 tons per day.
Moreover, the price per ton for these exports was more than 14% higher, averaging $523.80.
This surge highlights Brazil’s growing influence in the global sugar market, reflecting both an increase in production capabilities and robust international demand.
Brazil’s volume and revenue surge underscore its pivotal role in global sugar supply, with price hikes reflecting market strength.
Brazil’s growth in the sugar-energy sector may impact global supply dynamics and pricing strategies significantly.
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