Brazil: Sugar Semi-annual
Brazil’s MY 2018/19 sugarcane crush has been revised down to 610 million metric tons (mmt), due to dry weather in the major growing areas of São Paulo and Parana during the harvest season. Approximately 37.5 percent of the crop is expected to be diverted to sugar, as a consequence of the steady drop in world sugar prices, combined with increased demand for ethanol in the domestic market. Total exports for MY 2018/19 are estimated at 19.6 mmt, raw value, and back down to 2007 levels. In a recent decision by the Foreign Trade Chamber (CAMEX), the Government of Brazil approved a request from the sugar industry to open a panel at the World Trade Organization (WTO) against China for a tariff on sugar imports from Brazil.
