SUGAR REPORT | 23.03.2023 | MARKET NEWS

Czarnikow

• In Maharashtra more mills than normal have closed due to a lack of cane.

• With production failing to meet earlier forecasts, it is unlikely more exports will be permitted.

• White and raw sugar export margins have increased as global market prices have strengthened.

• We think Centre South (CS) Brazil will crush 597m tonnes of cane this year.

• Sugar output will be the second highest on record at 37.6m tonnes.

• This follows excellent rainfall in Q1, boosting cane yields.

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