Updates with report particulars, feedback from Unica
SAO PAULO/NEW YORK, June 25 (Reuters) – Brazilian mills in the primary centre-south (CS) area produced 2.19 million tonnes of sugar within the first half of June, 14% lower than in the identical interval a yr earlier and approach under market expectations.
Based on a bi-weekly manufacturing report by business group Unica launched on Friday, CS mills crushed 35.9 million tonnes of cane within the interval, additionally 14% under final yr.
Ethanol manufacturing fell much less, Unica mentioned, at 1.68 billion liters, or 8.7% under final yr’s quantity.
Uncooked sugar futures erased earlier losses after the report, and have been up 0.3%, earlier than weakening once more. SBc1
Analysts surveyed by info supplier S&P International Platts anticipated sugar manufacturing to be 2.47 million tonnes and cane crush 40 million tonnes for the primary half of June.
Unica’s technical director Antonio de Padua Rodrigues mentioned the smaller exercise within the interval was brought on by rains within the states of Sao Paulo, Parana and Mato Grosso do Sul, which led to a short lived halt in harvesting.
(Reporting by Roberto Samora and Marcelo Teixeira;Modifying by Elaine Hardcastle)
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