Rabobank sees 9% increase in the sugar cane production in the Center South of Brazil

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Next season’s cane crushing in the Center-South region of Brazil, which begins in mid-April, may rise 9% to 580 million tonnes. The projection was released on Monday by Rabobank.

The company believes that local prices of ethanol keep steady in 2013/2014, staying on average R$ 1.27 per liter in the season, and due to seasonality of supply and ethanol demand, Rabobank estimates that sugar prices may retreat to the equivalent of 17 cents per pound between May and July, according to Dow Jones.

The Bank’s projection is not far from that estimated by Raízen earlier this year, when the expected volume was released by the company at 585 million tons.

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