Brazilian sugarcane ‘boom’
Brazil’s sugarcane industry has enjoyed record growth this year, it has been claimed.
Figures released by the National Food Supply Company (Conab) reveal Brazil’s sugar crop grew by more than a tenth (13.9 per cent) in 2008 as production levels reached a record of 571.4 million tonnes, Brazzil magazine reported.
People considering Brazilian property could be interested to hear the news which suggests the nation is enjoying a period of economic resilience.
Other figures released by Conab noted that production of ethanol is likely to reach 325.3 million tonnes.
Conab president Wagner Rossi is quoted by the publication as saying the appreciation of the dollar favours sugar and alcohol sector exports and the prices of sugarcane products should rise as a result.
Meanwhile, the publication reported this week that the Brazilian government believes the nation will walk away from the global finance crisis in a stronger than position than it was before the downturn.
