North and Northeast Brazil’s Sugar Harvest Climbs 9.3%
By mid-March, Brazil’s sugar cane harvest in the North and Northeast had processed 57.38 million tons, reaching 92% of its target for the 2023–2024 season, marking a 2.5% increase.
Sugar production in these regions surged to 3.36 million tons, up 9.3% from the previous year, according to NovaBio.
This association, led by CEO Renato Cunha, oversees 35 mills and distilleries across 11 states.
Sugar exports remain lucrative for these regions, outpacing ethanol despite its price rise, largely due to favorable international market conditions and exchange rates.
Additionally, the global push to stockpile commodities amid international disputes has stabilized sugar prices.
Hydrated ethanol rose 11.8%, reaching 1.09 billion liters, while anhydrous ethanol fell 10.9% to 1.05 billion liters.
Total ethanol output slightly fell by 0.6%, reaching 2.14 billion liters, reflecting subtle shifts in biofuel production dynamics.
Brazil’s northern regions showcase agricultural resilience, with sugar production leading despite fluctuating ethanol trends, highlighting market adaptability.
Background
The sugar surplus on the global stage is predicted to expand beyond initial expectations for the 2023–24 cycle, StoneX reports.
Key recoveries in India and Thailand’s sugar production towards the end of their harvest periods have led to this upward revision.
StoneX projects global sugar output to exceed demand by 3.88 million metric tons, up from 3.4 million tons forecasted in February.
Specifically, StoneX adjusted India’s sugar output forecast up by 1.7 million tons to 32.8 million tons.
Thailand’s estimate also saw a boost of 500,000 tons, reaching 9.1 million tons. Both countries are witnessing improved harvest yields as the season concludes.
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Live Market IntelligenceBrazil — Live Market Board
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Brazil — Live Market Board
-0.23%
182,571.92
-0.23%
64,944.41
-0.07%
11,080.24
-0.51%
2,800,120
+0.04%
2,581.92
+0.10%
60,220.45
+0.05%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 182,571.92 | -0.23% | +21.85% | 182,991.13 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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