SAO PAULO, May 25 (Reuters) – Brazil’s center-south sugarcane crushing missed market expectations in the first half of May, data provided by industry group Unica showed on Wednesday, as the 2022/23 season picks up pace but remains delayed from a year earlier.
Crushing reached 34.37 million tonnes in early May, down 17% from a year ago. Analysts surveyed by financial information provider S&P Global Commodity Insights had expected it to come in at 35.6 million tonnes.
Sugar output totaled 1.67 million tonnes in the period, a 30.1% drop, while ethanol production was down 10% to 1.65 billion liters, said Unica, whose ethanol data also includes fuel made from corn.
Analysts estimates were seen at 1.67 million tonnes for sugar and 1.58 billion liters for ethanol, according to S&P Global Commodity Insights, with official figures coming roughly in line with expectations.