Couldnīt find the entire news, but found it very bullish long term.
Basically they say stocks in July 2020 were at 1.69 mio bags only+crop 69.5 Mio = 71.19 of initial stocks for 2021 season.
If you consider that probably Brazil will ship 44 mio bags and internal usage of 22.5 mio bags, we will end up by July 22 with only 4.69 mio bags in stocks. If 21/22 crop comes at let's say 55 mio, initial stocks would be 59,69 mio bags. If you take internal usage of 23 mio bags for 2022 cycle, then Brasil would have only 36.69 bags available to export. Imagine if crop comes at 50 mio. GT
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