Sugar mills in Brazil’s Center South processed over 50% of cane crop into ethanol amidst continued falls in global sugar price, reports Bloomberg. Some 54.6% of cane was diverted to ethanol production this season through December, when most harvesting ends, up from 50.4% a year earlier according to the industry group Unica. Ethanol output jumped 19% to 25.4 billion liters, while sugar production rose 0.6% to 34.3 million tonnes. Sugar futures in New York have slumped 50% in three years after global output led by Brazil surged to record levels. The fall in prices, which are below production costs for… Login to continue

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