As per official data, the sugar production of Brazil is likely to decline by 8 million tonnes from last year to around 28 million tons for MY 2018/19 due to steep decline in volumes of cane and mills prioritize ethanol production at the expense of sugar due to better returns for the biofuel.
The data stated that around 11% of fields are expected to be renovated this year, lower than an ideal level of 17 to 18%, which indicates to old cane fields that tend to produce less.
