Copersucar, a world leader in the sale of sugar and ethanol, reported a net profit of 281 million reais in the 2023/24 harvest, down 58.6% compared to last season, given the sharper decline in international sugar prices in the last 13 years and an unprecedented drop in domestic ethanol prices during the harvest, the company reported this Wednesday.
The result was achieved despite a 17.9% increase in sugar sales on the foreign market in 23/24 compared to the previous season, to 11.2 million tonnes, and a 5% increase in sales of the sweetener on the domestic market over the period, to 2.1 million tonnes. tons.
In the case of ethanol, sales from Brazil grew 82.7% in 23/24, compared to the previous season, to 9.5 billion litres. Sales from the United States increased 11.6% to 7.7 billion litres.
However, the company believes that “even if the amount (of the result) is lower than that recorded in recent years, it is the fifth highest net profit in the 15-year history of Copersucar SA, which demonstrates the resilience of our portfolio of activity “.
Source: Terra
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