BRAZIL: Safras & Mercado boost cane estimate by 4%
Published: 07/25/2012, 7:43:29 AM
Crop consultancy Safras & Mercado on Tuesday raised its estimate for Brazil's main sugarcane crop, saying that above-average rainfall in May, June and July has allowed fields to recover even as the harvest stalled, according to Dow Jones.
Safras expects the centre-south region of Brazil to produce 520 million metric tonnes of sugarcane in the current 2012/13 crop, up 4% from the firm's previous estimate of 500 million metric tonnes.
Safras sees all of Brazil, including northern and northeastern regions, harvesting 613 million tonnes of sugarcane, up from an initial view of 590 million tonnes.