- The season in Brazil is 56% done, with 19.7mmt of sugar produced.
- Mills keep maximizing cane allocation to sugar – no surprise!
- However, ethanol production is pretty advanced as well, and stocks are 20% higher yoy.
Summary Table 2H July
55% of the crush is done
- Cumulative cane crush has reached 326mmt – 5.7% ahead yoy.
- Crush pace has been excellent in CS due to dry weather, which limited days of stoppages.
- Efficiency has been so high that some mills are reporting that will end the season sooner than their initial projection.
CS Cane Crush – Until 2H of July 55% of the season done
- As for product output, no surprise that mills keep maximizing cane allocation to sugar production.
- Cumulative sugar output stands at 19.7mmt – which is a record for the 2H of July.
- Daily sugar production has been somewhat similar to 2017/18 – the last time CS maximized sugar mix, reaching 46.5% sugar mix for the season.
CS Daily Sugar Production – Until 2H Jul CS sugar output has reached 19.7mmt
- Another interesting thing is that although CS is maximizing sugar output, ethanol production has been quite high.
- Up until the 2H of July, hydrous ethanol production had reached 10.3bi litres.
CS Cumulative Hydrous Production – Until 2H Jul CS hydrous output has reached 10.3bi litres
- With a lower demand due to the coronavirus pandemic and production quite strong, total ethanol stocks are over 20% above yoy.
- However, with the fuel demand expected to recover, the tendency is for stocks to fall below 2019 levels.
Ethanol Demand
- Hydrous sales by the mills totalled 857mi litres in 2H of July.
- Although it is 18% lower yoy, it is still an excellent volume and a 16% growth when compared to the previous fortnight.
CS Monthly Hydrous Sales – slow and steady ethanol recovery of the domestic market
- Cumulatively, hydrous sales in CS stand at 5.7bi litres – 25% lower yoy.
