UNICA sees sugar production falling to 14-year low thanks to ethanol

In Brazil, Bloomberg reports that UNICA is expected to tell a government committee dealing with ethanol and supplies that growing ethanol demand domestically has pushed sugar production down to its lowest level in 14 years to 25 million metric tons. UNICA hasn’t updated its production figures publicly so far this season, choosing only to report data directly to the government, but their estimates are said to be around 578 million tons of cane crushed this season.