Brazil to grab 50% of the world exports of sugar
Valor Econômico
After losing room in the international market of sugar for India in the last years, in part due to the increase of the domestic production of ethanol, Brazil stands out again in the shipments of the commodity. The country should end this 2009/2010 harvest with a share of 50% in the international exports of sugar, ten percent more than in the 2008/09 cycle, according to a survey made by Job
Economia e Planejamento.
With the path opened by India's leaving the export lead, the shipments of the Brazilian plants should break an absolute record in the season, with nearly 26 million tons. Should the estimates be confirmed, the increase in relation to 2008/09 will be of 24%. According to Júlio Maria Martins Borges, CEO of Job, the foreseen volume is also considered the limit for the current capacity of the Brazilian ports.
In revenues, the exports of the 2008/09 harvest achieved US$ 6 billion and may grow significantly in the 2009/10, considering the average prices practiced so far. Just to have an idea, the volume exported in the last two months amounts to 4.387 million tons, a 33.7% increase in relation to the same period of 2008. The average shipped price of demerara and VHP (Very High Polarization) sugar remained at US$ 299 per ton, 11% above the same period of last year. The average quotation of refined sugar remained at US$ 331 per ton, a 10% increase compare to the same period of last year, according to Job.