Brazil Sugar Reaches 34 Million Tons, a Record, 20% of World’s Production

Brazilian sugarcane Brazil's Ministry of Agriculture, Livestock and Supply just disclosed that Brazilian sugar production should reach 34 million tons in the current crop, growth of 10% over the previous one. The estimate is by the coordinator of the Sugar and Alcohol Department at the Ministry, LuÀ­s Carlos Job, in a press statement.

According to the Ministry, the total is record and represents 20% of global production. Job pointed out that the expansion of the Brazilian crop was boosted by lower production in other nations, especially India.

"For local reasons, India, the second main producer in the world, had significant reduction in production over the last two years, and the country should have to import between six and eight million tons by late 2010," said Job.

The coordinator added that there was great reduction in global sugar stocks over the last three years due to the weaker crop in India. This also influenced the price of the commodity, which reached the highest level in 30 years, according to the Ministry.

In future, according to Job, there may be small recovery in production in India, the United States, Thailand, China and Mexico, which should push prices down. "In the futures market, the tendency is for gradual reduction in prices of sugar up to 2011. Sugar in bulk should drop from the current US$ 480/ton to US$ 390/ton and the refined variety, from US$ 540/ton to US$ 490/ton," said the coordinator, always according to the ministry.

With the current exchange rates, according to the ministry, the production of sugar should grow more than that of ethanol in the next two crops.

Anba

Tags:

You May Also Like

Brazil Calls Rio +20 Final Text Step Ahead and Accuses the Rich of Being Stingy

The Brazilian minister of Environment, Izabella Teixeira, came out in defense of the Rio ...

For This Brazilian Harvard Law Professor Rule of Law is Fraud

An academic who occupies a prominent place in Brazil’s politics is Roberto Mangabeira Unger, ...

We’ve never won so many medals

Atlanta has revealed to the world and to Brazilians themselves an unknown Brazil which ...

Brazil Is World’s 14th in GDP and 86th in Per Capita Income

On the latest World Bank annual list of the world’s economies, Brazil moved up ...

Soon All Soybean Will Be Transgenic in Brazil

Nearly half the 58 million tons of soybeans that Brazil expects in its next ...

Brazilian Cities Hosting 2014 World Cup to Get US$ 1.5 Billion from Government

Brazil has earmarked 3 billion Brazilian reais (US$ 1.5 billion) for investment in works ...

Amazon: Brazil Arrests 11 Caught Logging

The arrests in Brazil of eleven individuals caught red-handed in the past two weeks ...

Swiss National Taken to Jail in Brazil for Calling Airport Agent a Monkey

Brazilian authorities arrested a Swiss citizen in Rio's international airport Antônio Carlos Jobim, charging ...

Brazilian Groups Blame US Nun Murder on Lax Law

Protests are taking place all over Brazil against the killing of Sister Dorothy Stang ...

Brazil’s Port of Santos Adopts Verint’s Security

US-based Verint Systems Inc. a leading provider of analytic software-based solutions for communications interception, ...