Morning Call May 20th, 2026

NY July 2026 raw sugar recovered 28 points in the latest session, to US$ 15.01 c/lb, stable on a weekly basis, amid concerns over the advance of El Niño and its impacts on cane fields in India, Indonesia, and CS Brazil.
 

Brazil: hydrous ethanol consumption reached 1.83 billion liters in April (+0.1% YoY), a new record for the month, totaling 6.80 billion liters year-to-date (-5.0% YoY).
 

Brazil: regular gasoline (E30) consumption reached 3.94 billion liters in April (+3.3% YoY), also a record for the month, totaling 15.79 billion liters year-to-date (+3.7% YoY).
 

Brazil: total Otto-cycle fuel consumption reached 5.22 billion liters (+2.5% YoY) in April, in gasoline equivalent, a new record for the period, totaling 20.55 billion liters, gasoline equivalent, year-to-date (+3.9% YoY).
 

Brazil: ethanol’s (anhydrous + hydrous) share in the Brazilian Otto-cycle fuel market advanced 1.8 p.p. YoY, reaching 47.2% in April, the highest monthly level since April 2021.
 

Brazil: according to DATAGRO estimates, the share of flex-fuel vehicles fueled with hydrous ethanol declined from 29.2% in April 2025 to 28.5% in April 2026.
 

Brazil: B15 diesel consumption also reached a record for April, totaling 5.65 billion liters (+3.2% YoY), reaching 22.47 billion liters year-to-date (+2.9%).
 

Brazil: average cane field productivity increased 13.0% YoY in April, reaching 83.4 mt/ha, according to the CTC, in line with DATAGRO’s estimate of 83.0 mt/ha.
 

Brazil: sugar exports reached 1.066 mmt through the second week of May, with a daily average of 107 k mt, virtually stable versus May 2025 (+0.2%), according to SECEX.
 

India: ethanol blending in gasoline remained stable at 20.0% in April, slightly above the 19.7% recorded in the same month of 2025, maintaining the 20.0% average in the 25/26 fuel supply cycle to date.
 

India: ethanol consumption for blending totaled 932 million liters in April and reached 5.43 billion liters between November 2025 and April 2026 (+11.1% YoY).
 

Mexico: through May 9th, cane crushing reached 44.3 mmt in the cumulative 25/26 crop (+2.4% YoY), while sugar production totaled 4.8 mmt (+5.9% YoY).