quarta-feira, 15 de agosto, 2018

São Martinho see sugar cane harvest in the Center-South ending early in October

SAO PAULO (Reuters)-the sugar cane crop 2018/19 in the Center-South of Brazil should end sooner than usual in October, with ethanol prices in the domestic market reacting after the closure of the grinding, assessed on Tuesday the Chief Financial Officer and Relationships with Investors of Sao Martinho, Felipe Vicchiato. "The harvest has to end in mid-October, as the dry weather, and the breaks (production) must be higher than estimated. The Saint Martin hasn't seen a safra much larger than 550 million tons in Central-South, "said he during a teleconference with analysts about the company's quarterly result. Principal cane producing region, South-Central Brazil was impacted by drought between April and June, a period equivalent to the first quarter of the current season. If on the one hand the lack of rainfall has contributed to the advancement of the harvest, for other affected the agricultural yield of sugar cane, which led several consulting companies to revise down their projections. As Vicchiato, the early closure of the grind will result in a longer offseason, with ethanol prices if highlighting is already starting in October. The company, which held sales of ethanol with 1,727 real prices per cubic meter between April and June, foresees in the closed season selling an average of 1,830 to 1,850 reais per cubic meter. "We expect that price to stay at that level in the coming months. The price should begin to improve at the end of the harvest in mid-October, "commented the Director of Sao Martinho, which adopted the strategy of holding stocks of ethanol for selling in the second half, when prices start to react — more than the 60% production must be sold in the coming months. This strategy, combined with production and lower prices of sugar, took profit of the company, which has four plants in Sao Paulo and Goias to fall in the first quarter of the 11% cycle. Vicchiato said the company expects, depending on the performance, adopt a more aggressive policy of dividends at the end of the harvest.
Reuters - 14/08/2018 Noticia traduzida automaticamente
clique AQUI para ver a original
Outras noticias
DATAMARK LTDA. © Copyright 1998-2019 ®All rights reserved.Av. Brig. Faria Lima,1993 3º andar 01452-001 São Paulo/SP