Morning Call Apr 30th, 2026

NY raw sugar market closed Wednesday’s session sharply higher, tracking gains in the energy market. May 2026 rose 57 points to US$ 14.68 c/lb, while July 2026 advanced 54 points to US$ 14.77 c/lb.
 

Energy market moved firmly higher, reflecting concerns over a prolonged blockage in the Strait of Hormuz after the U.S. president signaled the continuation of restrictions on Iranian ports.
 

Brazil: with higher oil and gasoline prices in the international market, DATAGRO estimates that gasoline prices at Petrobras refineries are currently 48.1% below import parity.
 

CS Brazil: according to MAPA, cane crushing in 1H April reached 23.06 mmt (+38.3% YoY), likely reflecting a higher number of mills in operation and improved agricultural productivity.
 

CS Brazil: sugar production mix declined 12.5 p.p. YoY to 32.2% in 1H April, while industrial yield increased 1.5% YoY to 104.98 kg TRS/mt.
 

CS Brazil: sugar production totaled 742 k mt in 1H April (+1.0% YoY), while cane-based ethanol output jumped 72.1% to 971 k cbm. Corn-based ethanol production reached 404 k cbm (+12.9% YoY).
 

Brazil: sugar shipment nominations increased from 29 to 36 vessels, with a combined cargo of 1.561 mmt (-24.8% YoY). China leads as the main destination with 291 k mt (18.6% of total), followed by Canada (11.3%) and Bangladesh (7.2%), according to the DATAGRO Line-up.
 

Brazil: scheduled maintenance at CLI’s terminal 16/17 has been completed, reducing waiting time for berthing from 21 to 4 days, compared to 11 days in the same period of 2025.
 

U.S. ethanol production declined 3.0% last week to 1.009 mbpd (-3.0% YoY), while ethanol stocks fell 4.0% WoW to 25.881 million barrels (+1.9% YoY).
 

U.S. gasoline demand remained broadly stable last week (+0.5%), at 9.104 mbpd (+0.1% YoY).
 

Guatemala: cane crushing in the 25/26 crop reached 22.95 mmt as of April 19th (+3.3% YoY), while sugar production totaled 2.43 mmt (+7.1% YoY).
 

Thailand: given the extended 25/26 crop, with still-strong cane crushing and sugar production pace, DATAGRO has once again revised upward its 25/26 sugar production estimate.
 

Thailand: due to the reduction in planted area for the 26/27 crop, driven by lower cane prices, DATAGRO has revised downward its estimate for Thailand’s 26/27 sugar production.