News International Sugar Journal

Brazil – More cane diverted to ethanol production as sugar price continues to slide [Registered]

Millers in the center south, Brazil’s main cane growing region, diverted 58.1% of the crop in the second half of June to make ethanol, according to the industry group Unica. That’s up from 52.2% in the same period last year. Cane processed in the period this year was lower at 29.1 million metric tons as rains delayed harvesting compared with 31.7 million tonnes last year. The increase in diversion to ethanol production is driven by both sugar futures holding at just above 16 cents/lb (well below the production cost of around 17.7 cents according to Macquarie Bank latest report) as…

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