Sugar prices in Brazil are expected to decline in the coming months as the 2020/21 sugarcane crushing season progresses and production increases, said Brazil’s National Supply Company (Conab) in its monthly report, according to Brazil’s Agencia Udop.
A rise in Brazilian sugar exports should help to partially mitigate the expected price fall in the market, according to Conab’s report signed by market analyst Fábio Silva Costa.
Ethanol prices are expected to remain pressured by reduced consumption due to the social distancing measures to curb the spread of the COVID-19 and low oil prices, according to Conab.
