Sao Paulo: A Brazilian sugar company called CMAA announced a big spending plan. The company is going to invest over $680 million to crush more sugarcane.
Right now, the firm’s factories can handle 10 million tons of sugarcane each year. By 2033, it wants to crush 80% more, bringing that total to 18 million tons.
The firm is also making a lot of sugar and ethanol this year (over 700,000 tons of sugar and 340 million liters of ethanol), but it didn’t say how much they expect to make in the future.
CMAA posted net revenues of 2.54 billion reais ($496.7 million)in the 2023-2024 cycle, a 16.5% increase from a year earlier, mostly driven by higher sugar prices.
