CMAA announces investment of R$3.5 billion to expand sugarcane production in MG

Companhia Mineira de Açúcar e Álcool (CMAA) announced today the investment of R$ 3.5 billion in its three industrial units. The plants are located in Uberaba, Limeira do Oeste and Canápolis, all in Minas Gerais.

With a capacity to process 10 million tons of sugar cane per year, the company recorded revenue of R$2.54 billion in the 2023/24 harvest. With the start of investments, the expectation is to reach R$3 billion in the 2024/25 cycle.

Faced with a more favorable market for sugar prices, CMAA projects production of just over 700 thousand tons of the sweetener in the 2024/25 harvest. Ethanol supply tends to fall by 3%, to 340 thousand cubic meters.

“We trust in the continued growth of the sugar-energy market and the potential of the Triângulo Mineiro to increase sugar and ethanol production,” said Carlos Eduardo Turchetto Santos, CEO of CMAA. According to the executive, the goal is to reach revenue of R$4 billion in 2025.

Controlled by the JF Citrus Group, the company has invested in the growth of sugarcane production in Minas Gerais. The State produced 81.4 million tons of sugarcane, an increase of 15.4% over the previous year. Minas Gerais represented 11.4% of national production, which was 713.2 million tons last year.