Brazil’s sugar pricing goes to 85.75% of exports 21/22

Brazilian mills have already fixed sugar prices for the 2021/22 harvest to 85.75% of projected exports for the season, up about five percentage points from last month’s survey, Archer Consulting estimated in a note, based on data up to February 28. Mills have taken advantage of favourable market conditions and advanced as never before to lock in deals for the next harvest, which officially begins next month in the center-south.

Source: 6 Minutos Economia

Operation ‘Expresso’ against tax evasion in the coffee sector estimates fraud of over $179 mm

A task force of the Civil Police, Public Ministry, Federal Revenue Service and state agencies is carrying out search and seizure warrants and arrests to fight what is considered a fraud and tax evasion scheme in the Brazilian coffee industry amounting to more than R$1 billion ($179 mm). The operation called “Expresso” affects the largest global producer and exporter of coffee.

Source: R7