Sugar Prices Under Threat as Rains Destroy Brazilian Cane Harvest

Most mills in Brazil’s central sugarcane region are closing cane crushing for the season due to rains hampering harvests, leaving millions of tonnes of cane buried in fields. Analysts and brokers believe the Brazilian sugar season has ended despite expectations that mills would go on for longer into December to try to crush available cane and profit from high sugar prices. Reduced production from Brazil, the highest exporter of sugar in the world, would indicate a higher international cost of sugar(see chart 1 below). 

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