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Bunge Sees Light at End of Tunnel for Brazil's Sugar Industry

  • Depreciation of Brazilian real helping reduce costs: Bunge CEO
  • Sugar supplies to fall short of demand this season and next

The Brazilian sugar industry is reaching a turning point as global shortages mean more stable prices at a time the depreciation of the real is reducing costs, according to Bunge Ltd., which owns eight mills in the nation.

Brazil, the world’s largest producer, will need to boost output over the next decade to meet rising demand, Soren Schroder, chief executive officer of the White Plains-based company, said at the Dubai Sugar Conference, a private event for 400 industry leaders. Global supply deficits forecast for this year and the next will result in the stabilization of prices, he said.