Brazilian ethanol and sugar maker Copersucor said that company is expecting sugarcane crushing during the ongoing harvesting season to increase by 12 per cent compared to the previous season, reports Reuters.
Tomas Caetano Manzano, CEO of the company said that the company is expecting to crush around 100 million metric tonnes of cane in the 2023-24 season as against 89 million metric tonnes during the last season.
The company reported a net profit of 679 million reais ($142 million) in the 2022-23 season which was the second-highest profit recorded by the company.
The rise in profit owes to the performance of its trading arm Alvean, the company said.
The company has stated that its revenue declined by 6.4% every year during the 2022-23 period to 70.1 reais.
