Includes particulars of report, market estimates, futures transfer
SAO PAULO/NEW YORK, June 10 (Reuters) – Brazil’s center-south area produced extra sugar and almost 10% extra ethanol late in Might than seen a 12 months earlier, because the dry climate allowed for a fast cane processing tempo, trade group Unica stated in a bi-weekly report on Thursday.
Mills within the area produced 2.62 million tonnes of sugar within the second half of Might, 2.6% greater than a 12 months in the past and barely above market expectations. Ethanol manufacturing rose 9.1% to 1.98 billion liters, Unica stated.
Sugar and ethanol vegetation crushed 43.22 million tonnes of cane within the second half of Might, 1.9% greater than a 12 months in the past.
Merchants and analysts had been anticipating sugar output at 2.59 million tonnes and cane crush at 43.04, in accordance with a survey by power and commodities data supplier S&P International Platts.
It was the very best sugar output ever for this era, S&P stated.
Uncooked sugar costs on ICE, which had been up barely earlier within the session, turned damaging after Unica’s information launch.SBc1
(Reporting by Nayara Figueiredo and Marcelo Teixeira, Modifying by Alexandra Hudson)
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