Good afternoon, ladies and gentlemen. Welcome to Jalles Machado's conference call to discuss the results of the first quarter of the crop year 2021-2022. This conference is being recorded and the audio will be available at the company's website at ri.jallesmachado.com. At the end of the presentation, all participants will be able to participate in the Q&A session when further instructions will be given. Should you need assistance during the call, please press star zero. The earnings release and the presentation on the first quarter of crop year 2021-2022 can be accessed on the company's RI website. Before proceeding, I would like to mention that any statements that may be made during the conference related to the company's business prospects, forecasts, operating and financial targets related to its growth potential, are based on the company's management's expectations about the future of Jalles Machado.
Such expectations are highly dependent on domestic and foreign market conditions and national and international economic scenarios, and therefore, they are subject to change. Today with us are Mr. Otávio Lage de Siqueira Filho, CEO, and Mr. Rodrigo Penna, CFO and IRO. Now, I would like to turn the floor over to Mr. Otávio. Mr. Otávio, you may proceed, sir.
Good afternoon everybody. I would like to start by thanking God for the gift of life. I would also like to thank our investors, partners, friends who have always believed in our company and invested in our company, and they make this company modern, dynamic, and I would like to thank them for that support. I would also like to thank Rodrigo, our CFO.
I would like to thank Fred, who works with investor relations, and also the other officers, our operations officers, and Henrique, our Commercial Officer, Alessandra, who's coordinating our conference call today. We are all very happy to be here with you to provide you with our results. We are very happy about them. We are happy about the results, and the crop year has been according to plan. Here in the state of Goiás, we have very little rainfall in this period, and that allows our crop to develop well. We don't have weather conditions that are not advantageous. That is why we always invested in irrigation, so that we can offset the lack of rainfall during this crop season. On the other hand, that allows us to have a very easy crop year and crop season.
Our yields are according to our expectations and our crop season is performing very well at a good speed, and it is actually outperforming our expectations. Our yield is according to plan, just a little bit higher than we expected. There are many challenges, of course. COVID-19 is one of them. Now, with vaccination picking up here, we are seeing good results. We can see fewer people having to take leaves, which was a problem last year for us. Still, we were able to meet our targets, and the same thing is happening this year. I would like to turn it over to Rodrigo now. I just wanted to make these initial remarks, but Rodrigo is the one who's going to give you our numbers and indicators. Thank you all very much. Good afternoon, and Rodrigo, over to you.
Hello good afternoon. Thank you Otávio for the introduction. This is the introduction of our first call in the crop year 2021-2022. I would also like to thank you all for participating in our conference call today. Our shareholders and investors who have been supporting us, who have believed Jalles Machado and our history. Now we're going to go over the presentation, and we'll be free to take your questions towards the end. I would also like to thank Fred. I would also like to thank the controllership and accounting guys and my colleagues here in our department. Let's start the presentation. I believe that we made the presentation available yesterday. As Otávio said, this crop year has been performing well. On slide three, you can see the main highlights for the quarter.
We had 0 crop failure and our ton of sugarcane per hectare was 97.7. Which is in line with the previous year, which was also 97.7. We didn't have any problems with weather, including frosts. Just so you have an idea, this was one of the coldest years in history here in the region where we are located in the state of Goiás, and we had minimum temperatures of 12 degrees Celsius. We don't have frosts here in our region. As for droughts, we had lower rainfalls, as we said in our previous call, but it was very well distributed. We had lower rainfall, but the distribution was normal. With our irrigation structure, we were able to keep our yield in line with the previous year. Our revenue was 91% higher than last year.
Our CTG grew less than 50% than the previous year. We had a 16.5% increase in the number of tons of sugarcane crushed, and we had an increase of 21% in TRS. Our EBITDA for the last twelve months grew by 37%. Our margin was 72%. Now moving on to slide four you can see the main operating indicators. We have already talked about crushing and yield. I would just like to comment on our mix. Our mix had a larger share of ethanol, but this was in line with the previous year. We had 50% of ethanol and 43% of sugar. In the first quarter, there were some moments in which we favored ethanol to the detriment of sugar.
We expected to have a more sugar-prone season when we planned for this year, but we had a few moments in which we favored ethanol. Our TRS grew, and the average age of our sugarcane fields is in line with the previous period. Now, I would like to highlight two points. The first one was our total TRS production, which was 21% higher. You can see that we sold 40% more than the previous year. Although we produced 20% more, we sold 40% more because we had a higher ethanol sale in the period in comparison with previous years. Because the price for ethanol was very good at the beginning of the season, and usually in June and July, we decrease our sales. However, we decided to continue selling ethanol because of the good prices.
Now on slide seven, very briefly, I would like just to make a few points here. We started with sugar 25% higher than the previous year, and in ethanol, the price was 91% higher. This is what we can see. Since the beginning of the season, the price of ethanol has been very firm and very high. Now moving on to slide nine. I'm not going to go into the details of each item. We have already talked about the evolution of our revenue. I would just like to talk about our total EBIT and our cash result, excluding all the non-cash effects of BRL 157 million in comparison with BRL 35 million year-over-year. It's almost 4 x as much as we had year-over-year with a 42% EBIT margin, considering only the cash effect.
Now over the next slides, I'm going to talk about the main points of our financial highlights. I would like now to move on to slide 10. Here on slide 10, I would like to talk about the share of ethanol in our quarter. 50% of our revenues came from hydrous and 4% came from anhydrous ethanol. 54% of the revenues came from ethanol. The foreign markets accounted for only 8% of our revenues. The crisis that we can see in maritime freight with the lack of containers delayed the loading of Organic Sugar, which is the product that we export. In the first quarter, the Organic Sugar loading and boarding to foreign markets was a little bit lower because of the crisis involving the shortage of containers and because of the volatile market for maritime freight.
Now, moving on to the next slide, we can see that our COGS grew by 44% and our revenues grew by 91%. We saw an increase in SG&A expenses as well, but that happened only due to tax effects. They are related to the advance payments of Produzir and also to PROTEGE. They are referring to payments of fees related to tax incentives. Ethanol has a higher ICMS tax rate, and since we sold more ethanol, the contributions related to those tax incentives were also higher. This is a component of SG&A expenses that is variable. It varies according to the tax incentives related to the ICMS tax here in the state of Goiás. Now, moving on to slide 12. I just want to highlight some more details about what I said previously.
You can see here other operating revenues, and since our ICMS is, ICMS tax is higher, you can see here that our tax incentive recovery also increased. We can see that effect as a debit related to SG&A, and we can see also the credit related to the same factor here in our operating income. Now, our LTM EBIT was BRL 693 million in comparison with BRL 244 million year-over-year, and our EBITDA was 37% over the last twelve months with BRL 909 million. Still on slide 12, I'm not going to go into details. You can all take a look at our earnings release to see more details. On slide 13, you can see our Adjusted EBITDA for the first quarter year-over-year and also our results for the last twelve months.
You can see that our EBITDA grew by 140% year-on-year. Now, moving on to slide 14, you can see our inventories. Our inventories were exactly in line with the first quarter, 2020- 2021. In terms of finished goods, since we sold more ethanol, we can see here that our finished goods inventory is a little bit higher, but it is virtually in line with the previous year. On slide 15, you can see our mark-to-market by crop, and you can also see our sugar hedge. You can see that we had BRL 160 million in mark-to-market. That is a negative number because we measured that sugar in a lower level than the market right now, but this is distributed across many crops. Not all of that is going to be in the current season.
By July 31st, it was BRL 82.9 million. You can see here on the table the impact of mark-to-market by crop. Now our hedge. We ended the first quarter of 2022 with 80% of sugar fixed for the current season. It is important to mention here that this is what we have for hedge by the end of this crop year, but we have already discounted all the volumes that we have already sold. This is what we still have in this crop season, which accounts for 21% of the total TRS. For 2022-2023, we already have 91% of fixed sugar, 32% of our fixed TRS, and the average price for the current season is BRL 1,569.
You can see that the white sugar equivalent is 1,804. For 2023-2024, it is going to be 1,895. You can see the average equivalence also between the prices and also the market, the domestic market. Our market is domestic market. We fix prices in New York because of the correlation, which is roughly 90%. The prices are fixed in New York, but our market is domestic. Organic sugar is the only product that we actually sell to foreign markets. You can also see here our foreign currency exposure. We have only $6.3 million in exposure considering our assets and liabilities in dollars. We have virtually zero exposure, almost zero.
Our CapEx increased a little bit more, our recurring CapEx, and that happened mainly because of crop treatments. We advanced more in our crops, so we have a larger area for crop treatment. That also happened due to unit costs related to planting and also treatment. The costs are a bit higher. We also have expansion and improvement CapEx, which also increased a little bit. We have already finished our investments in the first quarter. We bought a few pieces of equipment, for example, molecular sieves and dehydrators in the Jalles Machado unit. Those are the two main points related to the increase in our CapEx for expansion and also our recurring CapEx. We have BRL 1.2 billion in cash, 180% higher. Here on slide 17, you can see our cash and equivalents.
We have BRL 1.2 billion in cash and equivalents so that we can seize M&A opportunities and make investments. Our debts decreased significantly in the first quarter. We went from BRL 196 million- BRL 63 million. That comparison is year-on-year. You can see that we went from BRL 856 million- BRL 63 million. In the quarterly comparison, we went from BRL 197 million- BRL 63.5 million. You can see that we had a very strong cash generation in the first quarter. The average term of our debts is at 2.8. On slide 18, I want to talk very briefly about our debt in terms of currency. We have a very little U.S. dollar exposure. I just wanted to make a correction here.
Don't use the chart, the amortization schedule that you can see on slide 18. Please refer to our earnings release to check that information. The charts that you can see on the slide is not the correct one. This one is actually referring to the fourth quarter, and we are now making that adjustment. Now moving on to slide 20. You can see the impacts that we had on our net debt from March 2021 to June 2021. We started with BRL 197.6 million. That was our debt level in March 2021. We increased the need for working capital by BRL 50 million. We invested BRL 62 million in cash. Then we had a cash flow of BRL 216 million. That was our cash generation.
We also had a foreign exchange variation of BRL 31 million non-cash, and that led us to a debt level of BRL 63.5 million. 0.1x that, it is our leverage. It's 0.1x. I think this has been our lowest level in our history, but we have many investments to make, and we will need third-party capitals to increase our capital structure and efficiency. On slide 21, you can see an update. The two units have already crushed 3.2 million tons. In comparison with our guidance that we disclosed in May, that accounts for 61%-63% of our crushing. Depending on the range that you choose from our guidance, the low or the higher range. Our TRS was 99.5. This is the updated status in terms of crushing as of August 15, 2021.
With that, we conclude our presentation of our results, and we are now ready to take your questions. Once again, thank you very much for participating in our conference call. Thank you very much for listening to us, and feel free to ask any questions you might have.
Ladies and gentlemen, we are now going to start the Q&A session. To ask question, you may please press star one and to remove your question from the queue, please press star two. First question comes from from Gabriel Barra with Citi.
Hello, good afternoon. Thank you very much for the presentation. I have two questions. The first one is more high level about capital allocation. When we look at your capital structure, we can see that the company has a very low leverage and very low debt levels.
We have some options in terms of capital allocation ahead of us. I would like to ask Otávio and Rodrigo, what is your idea for the capital structure? Maybe M&A would be an option. I would like to know more details about your M&A strategy. Also, I would like to know about the increase of 1 million tons. Looking at our profit, I would like to know about your ethanol strategy. Rodrigo said that there was an increase of 40% in sales of ethanol. I would like to know your strategy moving forward in terms of selling ethanol and also in terms of your mix. Maybe there is room to increase the share of ethanol in your mix in the future. If you could give us more color on that would be great.
Thank you very much for your participation. Well, the first question about capital allocation, we disclosed a material fact recently in relation to the brownfield growth, which is the organic growth in our current units. We are going to invest a total of BRL 517 million. BRL 425 million will go to grow by 1 million tons. BRL 93 million will be invested in a boiler for us to be able to reduce our costs related to straw, which is about BRL 10 million per year. We want to have a larger boiler so that we are ready for growth in the Otávio Lage unit. We are going to grow, and we are going to be able to support a capacity of 3.5-4 million tons. That's our plan in terms of capital allocation moving forward.
We are going to invest in planting for the coming year, which is going to give us crushing for 2023. We are going also to invest in planting for 2023 so that we can crush that sugarcane in 2024. In the crop year 2024-2025, we will have completed that increase by 1 million tons, which is the focus of this investment. We also have our M&A strategy. We cannot disclose too much about that, but it has been advancing, and we continue with the same schedule of completing our M&A deal during the current crop year. We want to finish that deal still in this crop year. That is still our schedule, and it has been advancing. It continues to be one of our strategies.
As for your second question, Gabriel, in terms of the mix of sugar and ethanol and our flexibility, well, we started this crop year thinking that our priority would always be sugar. In general, this crop year has been more concentrated in sugar. Most of the time, we produced as much sugar as we could, but there were a few moments, including the first quarter and now in the current moment, we have been placing higher priority on ethanol. We never thought that would happen in this crop year, but it has happened. I can tell you that in our region, producing ethanol or sugar makes no difference really. They are very similar. We have a limit of having 48%-50% of sugar in our mix.
Ethanol can go up to 60% in our mix if we had to put higher priority on ethanol during the whole crop year. We do have the ability to produce more ethanol to increase the share of ethanol in our mix. For sugar, we would go as high as 50%. That is, that's the maximum share of sugar in our mix that we can have. For ethanol, that can go up to 60%-65% if that is in the best interest of the company. There were moments during the crop year in which we did our maximum capacity of sugar, and there were some moments in which we prioritized ethanol. As I said, Gabriel, we sell Conventional Sugar in the domestic market.
When ethanol becomes more interesting than sugar, we don't need to do washout and incur the costs related to that. We just simply sell ethanol and dispose of our positions in sugar in the market, so we can have that premium gain of ethanol over sugar, although we had a financial hedge on sugar. I think I answered your questions. If not, please let me know. That was very clear. Thank you very much, and congratulations on the results.
Thank you.
Thank you, Gabriel. Thank you for participating.
The next question comes from Thiago Duarte with BTG Pactual. Please, Thiago, you may proceed. Mr. Tiago, you may proceed, sir. The next question comes from Mr. Audi with Santander.
Hello. Thank you for taking my question, and congratulations on the results. I would like to ask you about a few points. The first one is the Organic Sugar dynamic. You said that there was a problem related to availability of containers. Is that under control? Do you think that the outlook is favorable or maybe not? I would just like to know your vision about that. The second point is about prices. You mentioned that there is a positive price dynamic and that you are prepared so that you are not affected by weather conditions. I just wanted to have more color about the price dynamic. Is it still positive for sugar and ethanol? What are the risks against that favorable outlook? The third question is about capital allocation. I understand that M&A deals are difficult to control in terms of timing. It may take longer or maybe not.
I would like to know if in case this process takes a little longer, do you think that there is any project, maybe a brownfield project, that may use that capital instead of an M&A deals? Or is your focus 100% on M&A?
Thank you very much Christian for your participation. Great questions. Well, starting with the crisis related to the shortage of containers and the change of costs in relation to maritime transportation, we believe that the situation is still going to be difficult in August and September, and then things are going to get better. This is our perspective. There were crazy increases in costs, in maritime costs and shipping to the United States. The costs used to be X and now they are 5X. Of course, that has an impact on importers, and it causes shortage of containers.
Things are not normal at the moment. It might be 30-60 days until we see any improvement. As for your second question, which was related to M&A. Actually, that was your third question. I'm going to talk about M&A first, and then I will answer your second question. You are correct. You cannot control the timing of M&A transactions. Considering the alternatives and options that the company has, we believe that we are going to have an M&A deal, but we must always take into account if that deal makes sense to the company. We believe it does make sense in terms of increasing our scale and bringing higher returns to our shareholders. We believe that we are going to be able to close a deal.
If that deal is not interesting, then we are in no obligation of moving forward with an M&A deal. I think that all investors are on the same page about this. If something happens that changes everything, and if an M&A deal is not favorable to the company, then of course, we do have other options for capital allocation, not in the same volume as in an M&A deal. We do have internal projects, and we also have a project for biogas in the Jalles unit. We are going to see other opportunities in Jalles as well. That's not our focus right now. We firmly believe in our M&A deal, and we are focusing on that.
Now that we have already announced the brownfield investments in the amount of BRL 577 million, now we are focusing on completing the M&A deal, which is going to make a great deal of sense to the company. Christian, you asked another question. Can you please refresh my memory?
Yes, absolutely. You are in a very positive moment right now in terms of the prices of ethanol and sugar, and you are protecting yourselves from the weather conditions, which have not impacted you at all. I would like to know your perspective in terms of the price dynamic going forward. Do you think the scenario is going to continue to be positive in terms of sugar and ethanol prices? And the impact from the shortage of containers in terms of Organic Sugar, how much would that impact your results from the Organic Sugar line?
Well, in terms of prices, I'm going to start answering your question about the prices of sugar and ethanol. Well, everything that we have seen so far points toward a good price cycle and a long-lasting cycle. The last time it happened, it lasted for one and half years in 2015 and 2016, and now it is happening again. We can see here in Brazil that the production of sugar is decreasing and ethanol prices are very attractive. If you look to other countries, India is also adding ethanol to gasoline. When we look at the projections of the research institutions in terms of the balance of ethanol and sugar, we can see that the stock is already decreasing, the inventory is decreasing, and this is a positive scenario. We thought that we would have a negative impact from what India announced.
They announced that they are going to cut subsidies for exports, but that effect is minimal. We expected to see a one cent decrease, but that would be a short-term issue. The scenario for sugar is positive. We are going to see a deficit in this crop year and the next one. Brazil decreased the production significantly, and probably it is not going to rebound for the next year because the droughts really impacted the sugarcane fields. I don't think we are going to recover 600 million in one year. That's very unlikely. The scenario is positive. Oil, on the other hand, which also affects ethanol, is in a positive outlook.
We believe that we can see a long-lasting outlook, positive outlook. Since we can only protect ourselves in Conventional Sugar, which is 30% of the total TRS, but we are exposed in 70% of that volume. In those moments, we have to advance and hedge our production. In terms of Organic Sugar, if we think that the freight issues will have an impact on our results, well, that is going to be an isolated issue. If there is anything that we can't recover, that is going to be marginal. It is going to be an isolated issue.
Okay. That was very clear. Thank you very much.
Duarte, the floor is yours. Good afternoon, Otávio and Rodrigo. Can you hear me?
Yes. Yes, we can.
Well, I wanted to ask three questions, Rodrigo, please. The first one is about the brownfield expansion plan. You mentioned you are going to invest BRL 517 million in CapEx over the years. I would like to know how you are going to break that investment down by year. How much do you think you are going to invest this year, maybe for field expansion? And how much are you going to invest over the next years? That would be helpful for us to be able to understand your capital structure over the years. And the second question is about what is happening right now with Albioma, with the cogeneration and production of biogas from vinasse.
If you could give us more color about this project and how big can it get in your energy subsidiaries or in Jalles Machado itself. I believe this is a topic that is growing in relevance in the industry. It would be nice to hear what you have to say about this. The last question is about your guidance. Looking at the results for the first quarter, I think that it is still early in the crop year to say anything about your guidance. Considering the quality of your production, considering rainfall and your TRS, we have the impression that you can target the top range of your guidance much more than the middle range of your guidance. I would like to know from you if that makes sense. Thank you.
Thank you, Thiago. I think that we had some technical difficulties with our connection. I would like to thank Audi for asking questions. If we have not addressed any of your questions, Mr. Audi, please let us know. After we answer Duarte's question, we can address yours. We can go back to your questions, Mr. Audi. Duarte, about how we are going to break down our investments amounting to a total of BRL 517 million. Well, in the current crop season, the schedule that I'm going to give you is what we have now, but it is subject to change. We believe that we are going to invest BRL 140 million across the two plants in the crop year 2021-2022. BRL 257 million in 2022-2023. In 2023-2024, it would be BRL 105 million and BRL 15 million in 2024-2025.
We would have 6.3 million tons in 2024-2025. We would have 5.8 million tons in 2023-2024. We would have 4.5 million tons in the next crop year, 2022-2023. Besides growing by 1 million tons, we are also going to make investments in irrigation, which is also a part of that growth of the 1 million ton increase. We are going to increase our irrigated area, and that is included in the investment of BRL 527 million.
Ladies and gentlemen, please stand by. Mr. Rodrigo Penna, the floor is yours.
To answer your question about biogas and Albioma. Well, we are going to produce biogas from vinasse, exclusively vinasse, and we are going to use it in our boiler. We are not going to purify the biogas.
It can be injected directly in the boiler, and we are going to invest about BRL 25 million, and that investment is going to happen through Albioma, our subsidiary, in which we hold a 35% stake. The biogas that we are going to produce, conservatively speaking, it is going to be sufficient to export 22 GW per year. We are going to increase the level of exports by 22 GW per year in Albioma Codora Energia, our subsidiary. For each use of biogas, the value added might be lower or higher. For injection in our boiler, the added value is lower, but you can also produce biomethane for biodiesel. We have been looking into this project for many years here at the Jalles plant. We have been assessing this project for seven years together with our partners to produce biogas.
We are going to assess whether or not we're going to do it next year. We would invest together with a partner. We are looking into this project together, and we would produce biomethane to replace biodiesel in the irrigation engines and our trucks and tractors as well, but not combines. We would sell the surplus, and we would invest BRL 120 million in that, but the value added would be much higher. Since there were investments rather happening in the sector last year, the company decided to look into these opportunities to understand if we would get the results and efficiencies as expected, so that we could start assessing this investment next year.
We are going to invest through Albioma in the Otávio Lage plant, producing biogas from vinasse, and that is a BRL 25 million invest, and it is going to generate 22 GW per year in exports. That is a conservative number.
The next question comes from webcast from Julia Rizzo.
Could you give us more color about having 80% of sugar hedged and 21% of your TRS if the sugar prices continue to be higher? How much of your EBITDA is already closed, and how much of that can vary according to the sugar price?
Julia thank you very much for your participation. When we say that we are hedging 80% of our sugar, it means that considering the conventional sugar that we produce, which accounts for 30% of our total TRS. We sold part of that. We don't have that amount anymore. That's why we have less than that. We have hedged what we still have to sell over the next nine months, and 80% of that amount is hedged. That's what sugar hedging means. Considering that, considering the expected sugar results, we would have that EBITDA. The rest of our TRS goes to organic sugar and ethanol, and that is not hedged. Most part of organic sugar has already been sold, and ethanol is sold on the spot market. We do not hedge our ethanol.
The next question also comes from the webcast from Pedro De Marco.
Good afternoon Rodrigo and congratulations on the results. We have two questions. Can you comment on working capital for this quarter? Was this increase isolated due to price increases and working with a higher inventory? Also, is the fuel presidential decree benefiting you? Thank you.
Thank you very much Pedro for your participation. Well, about direct sales, we don't see much of an impact. We see a margin that's very little for the distributors. Distributors, they deliver ethanol and gasoline and diesel. There is a whole product mix and a logistics involved, and the fuel stations account for a major part of the total ethanol sold. Centecoin is not going to be a part of that sale. We think that the volume of ethanol sold is going to be marginal, and we should also take CBIOs into account. Most part of the ethanol sold happens in capital cities. The plants are in smaller towns, not the capitals. Distributors have to take the products from the smaller towns to the capital cities.
We think that we're going to see a marginal impact in relation to the sales of fuel to the fuel stations. About warehousing inventory, it increased a little bit due to the higher sales and receivables also increase accordingly. The unit costs of some inputs also increased. As we said on other occasions, we are working with higher inventories because of the shortage of materials and issues in the production chain since the beginning of the pandemic. We believe that by the end of the crop year, we are going to have a smaller increase in our need for working capital. We are going to see an increase in unit costs of products in our inventories in terms of finished goods and also warehousing inventory. That is proportional to our revenues.
We end up selling almost the entire production, and we are left with just a small inventory of finished goods at the end of the crop year, except for organic sugar, because the crop year starts in June. We usually have a volume of organic sugar from one crop year to the next to serve the clients in April, May and June with products from the previous crop year.
Thank you. As there are no more questions, I would like to turn it over to Mr. Rodrigo for his final remarks. Thank you very much. You may proceed, sir.
Well, once again, I would like to thank you all for your participation and your interest. We are in a blessed crop year right now. Considering the weather conditions in Brazil and the frosts, we are still able to keep the same yield level that we had last year.
The crop year has been moving forward very well. We crushed a higher volume than we expected this quarter, so everything is going fine. Our growth plans are also advancing, both in terms of brown field projects and M&A deals. We are very happy about how things are going and moving forward. Another very important point, and I don't think you asked any questions about this, but it is important to mention differently from other crops, for example, grains, especially grains which are impacted by higher costs from inputs, for example, fertilizers and crop protection and diesel. We looked at all of those impacts, excluding the impacts of Consecana. We only have that impact in our agribusiness partnerships.
The effect of price increases from Consecana only impacts us in our partnerships, but we have our own sugarcane, and I'm referring to the partnerships in terms of the use of land. If we exclude the Consecana effect, those main inputs account for 10% of the cash cost of sugarcane. We don't even see that in our accounting result for this year because we consumed most of that last year. Differently from other crops, they have an impact from 35%-40% due to the higher costs for fertilizers and crop protection and diesel. Since we don't use so much of those products that are more costly and that account for larger part of the costs in other crops, we don't see the same level of impact in costs as much as we see in other crops.
I just wanted to mention that point because sometimes people struggle understanding the differences between the crops. Some agribusiness analysts don't take those details into account, and they know they are very knowledgeable about the grain industry. I just wanted to make that comment and thank you all very much for your participation and see you in the next Jalles Machado's conference call. Thank you.
That concludes Jalles Machado's conference call for today. Thank you all for your participation. Have a good day.