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      


 is also not expected to recover from the drop of this year, which resulted in 


 is on track     At this stage is expected a repeat of last year i.e. 6 mln 


In the West the is expected to have a much   should be back to 6 mln m/t.


Brazil is having to deal with a lower economy and therefore higher unemployment which is also causing a weaker Real and lower fuel demand. We have seen an improvement from March but we are yet to recover   ) therefore     stronger Sugar Mix.


  . We had a strong start of the Brazilian harvest, with strong Sugar Mix and  higher YoY by end of Aug.


 and some consumers to reduce stocks.


   limited to Brazil, India, USA and Mexico.


Based on the current scenario, we expect the    .


  


5 | ADMISI - The Ghost In The Machine | Q3 Edition


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