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Rains improve Brazil sugar crop outlook, says trader Wilmar

Rains in late March and early April in Brazil’s main sugar producing region will improve prospects for this year’s sugar season in the world’s largest producer and exporter of the sweetener, Asian commodities trader Wilmar WLIL.SI said on Tuesday.

Brazil’s Centre-South region will likely have its second highest agricultural yield in the sugarcane fields for the past nine years, Wilmar said in a post on X.

The Singapore-based company, which is one of the largest players in the global sugar market, said it projects the 2024/25 Brazil’s CS sugarcane crop at a range between 620-630 million metric tons.

It estimates sugar production at 42.5-44.5 million tons, with a crop target of 43.8 million tons, which would nearly equal the record production seen in the previous crop.

Wilmar’s projections continue to be on the top end of estimates by analysts and traders.

France’s Sucden, another major sugar trader, expects for example a much smaller production in Brazil CS at around 40 million metric tons due to below average rains all along the crop’s development stage.
Source: Reuters (Reporting by Marcelo Teixeira, Editing by Marguerita Choy)

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