- Sugar for the win in 2020/21!
- Record crush for 2H of April at 38mmt as mills pace up crushing.
- Sugar mix at 45.8% in the 2H of April it is the highest in almost 20 years.
Summary Table 2H April
Record Crush
- Crush totalled 38mmt in the 2H of April – 20% higher yoy and a record for the period!
- Not only weather was excellent for operations, but mills have pushed the crush pace to one of the highest on record for the 2H of April.
- We believe mills are taking advantage of:
- Excellent conditions for operations: no rains were registered in the period.
- Cane quality: ATR levels was one of the highest of the past years.
- Uncertainties due to coronavirus: better to push the pace and crush now, than to have to shut down and leave cane in the fields.
- No surprise that the CS mills are maximizing sugar mix this season.
- However, with the sugar mix at 45.8% in the 2H of April it is the highest in almost 20 years.
- According to UNICA, 8 mills that did not even turned on their sugar factories over the last 2 seasons are back in producing sugar.
Ethanol Market
- Hydrous sales by the mills totalled 1.2bi litres.
- This represents a 34% fall yoy and the lowest monthly volume since July 2017.
- Fall in sales reflects the coronavirus lockdown measures, and not a fall of hydrous competitiveness of the biofuel.
- Fuel prices have fallen significantly at the gas stations, and hydrous parity averaged 65.5% in April.
