Raízen's sugar sales total 2,655 million tons in the 3rd quarter of the 2023/24 harvest

São Paulo, 16 – Raízen released this Tuesday, 16, its operational preview for the third quarter of the 2023/2024 harvest. Regarding the agro-industrial operation during the period, sugarcane crushing was 18.8 million tons, 36.2% higher than the third quarter of the 2022/2023 harvest. The company comments that it was the period when milling and production closed, with a smaller harvest area. The record crushing year to date was 83 million (14% higher than the last harvest).

Equivalent sugar production was 2,400 – 2,500 million tons in the period, with a mix of 50% sugar x 50% ethanol, compared to 1.823 million tons in the same period of the previous year, with a mix of 48% x 52%. The balanced mix between sugar and ethanol is common for this final period of the harvest, according to the company.

Sugar sales were 2.655 million tons in the third quarter of the 2023/24 harvest, 6.8% lower in the annual comparison, with the pace of sales and shipments in line with the strategy established for this period of the harvest year, says Raízen.

The average price of Raízen sugar was R$2,600 – 2,800 per ton (higher than the R$1,903/ton a year earlier), with a “favorable market cycle, keeping prices at high levels”, highlights the company.

Ethanol sales were 1.416 million cubic meters, 17.6% lower in the annual comparison. The evolution of sales was in line with the strategy of positioning its own ethanol stock, given the market scenario, says the company. The average price of Raízen ethanol was R$2,500 – 2,700 per cubic meter (lower than the R$3,769/ton a year earlier), “a reflection of the greater supply in the sugarcane and corn ethanol market in the country and the parity level of price in fuel distribution”.

The company remembers that the information is preliminary, unaudited and subject to review until the date of official disclosure. Raízen will release its results for the third quarter of the 23/24 crop year on February 8, after the market closes. On the 25th of this month, the company will enter a period of silence. “There was a seasonal reduction in sugar concentration and productivity indices, reflecting areas harvested at the end of the harvest; Still, representing higher levels of TCH than those recorded in the last 2 years”, he concludes.