São Martinho estimates 8% advance in sugarcane processing in 2019/20

SÃO PAULO (Reuters)-the sugar and ethanol producer São Martinho estimates that it will process 22 million tons of sugarcane in the 2019/20 season, an increase of 8% compared to the previous year, according to a relevant fact released on Monday, in which the company Informs its "guidance" for the crop. The increase in grinding will be the result of better climatic conditions and projects aimed at increasing productivity, "said the company, one of the largest in the sector in Brazil. The company added that the average concentration of recoverable total sugars (ATR) in 2019/20 should be 139 kg per tonne, a 2% retraction against the previous crop. The São Martinho also predicted a production of 1.4 million tons of sugar and 915 million liters of ethanol in case the mix reaches maximum limit in favor of sweetener, and 1,055,000 tons of sugar and 1.1 billion liters of ethanol if the mix favors ethanol At its maximum. In a separate statement on the results of the 2018/19 harvest, São Martinho reported that sugar production totaled 992 million tons, falling 29.5% before the previous season, and that ethanol production advanced 15% to 1.1 billion liters. The company also said that net income in the 2018/19 season totaled 314 million reais, a fall of 36.1%.