Brazil is set to produce record 677.6 million metric tonnes of sugarcane in the 2023-24 season, according to a report from government agency Conab on Wednesday. This marks a 10.9% increase from the previous year and surpasses the earlier estimate of 652.9 million tonnes in August.
Favorable weather conditions and improved yields are driving this higher sugarcane output, resulting in a 27.4 per cent annual increase in sugar production for Brazil, the world’s leading sugar exporter, reaching a historic high of 46.88 million tons, as stated by Conab.
The agency noted that due to a positive market outlook for sweeteners, a majority of the sugarcane harvest is expected to be used for sugar production.
Conab’s report also predicts a 9.9 per cent increase in total ethanol production in Brazil for this season, considering biofuel made from both sugarcane and corn, reaching 34.05 billion liters. This estimate surpasses the earlier projection of 33.83 billion liters in August for the 2022-23 season.
