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Brazil’s MY 2016/17 sugarcane crush is estimated at 680 mmt, a two-percent increase compared to the previous season due to good weather conditions that favored steady development of sugarcane stocks.
Post forecasts cotton planted area for 2016/17 to increase to 980,000 hectares based on higher domestic prices and export demand.
The weak Brazilian currency and high inflation, fueled by an uncertain political atmosphere, will have a large impact on all producers in Brazil.
Post forecasts 2016/17 soybean production at 103 million metric tons (mmt), an increase of three percent compared to the current season.
Excise Tax on Industrialized Products (IPI) on alcoholic beverages was changed from an ad rem to an ad valorem system.