June 25, 2019 / 12:27 AM / a month ago

Brazil's Sao Martinho sees sugarcane crush up 8% in 2019/20

SAO PAULO, June 24 (Reuters) - Brazil’s Sao Martinho SA , one of the country’s largest sugar and ethanol producers, said on Monday it expects to process 8% more sugarcane in 2019/20 compared with the prior crop year.

The company sees its cane crush rising to 22 million tonnes thanks to “better weather conditions and projects aimed at increased productivity,” it said in a securities filing.

However, the amount of sugar derived from each tonne of cane will fall slightly. Sao Martinho said the total recoverable sugars are expected to be 139 kilograms per tonne, a 2% decrease from the previous season.

Sao Martinho predicted it would produce between 1.055 million to 1.4 million tonnes of sugar and 915 million to 1.1 billion liters of ethanol in the 2019/20 season.

The company also reported net income of 314 million reais ($82.07 million) for the 2018/19 season, a drop of 36.1%. ($1 = 3.8262 reais) (Reporting by Gabriel Araujo Writing by Jake Spring Editing by Leslie Adler)

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