Brazilian sugar and ethanol merchant Copersucar posted a consolidated net profit of BRL119 million (US$21.7 million) in the 2019/20 campaign (April to March) – a 33% drop compared to the previous season. However, total sales were up 5% to BRL30.1 billion (US$5.48 billion).
USA – 2019-20 sugar output forecast to drop by over half a million tonnes [Full subscriber]
In recent weeks, prospects for US sugar production have declined significantly due to adverse weather in both sugar beet and sugarcane regions. The US Department of Agriculture (USDA), in its Nov. 8 World Agricultural Supply and Demand Estimates report has projected a significant decline in 2019-20 sugar output with stocks-to-use ratio forecast to drop to dangerously low 10.5%.
Monthly Snapshot
Market Overview Following a nine-month high of 15.66 cents in late November, the raw sugar futures on ICE was down to 14.30 cents/lb on 16th December. Two developments – one […]
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