According to Copersucar SA’s top executive, Tomas Manzano, sugar production in Brazil, the world’s leading supplier of the sweetener, should strengthen in the coming months following a slower-than-expected start to the season. Manzano informed journalists on Wednesday that increased sugarcane acreage and expanded use of cane juice for sugar production will support higher production levels. He attributed recent weak results for the harvest in Brazil’s Center-South, the top producing region, were caused by one-off issues.
Manzano clarified that despite record sugar production last season driving down prices since last November, there have been no significant crop failures or dramatic changes. These comments were made during a press conference discussing Copersucar’s annual results. The group reported that its affiliated mills processed a record 110 million tonnes of cane in the season ending March, resulting in increased sales of both sugar and ethanol. Alvean, which Copersucar controls and is the world’s leading sugar trader, saw its sugar sales to international markets rise by 18% year-over-year, totaling more than 11 million metric tons.
