Unlike rum, cachaça can only be produced from freshly pressed sugarcane juice. It can only be made from Brazilian-grown sugarcane, and distillers typically use varietals that are indigenous to the country...
Like rum, cachaça can be bottled and sold both aged and unaged. However, the two spirits are generally aged in different types of barrels. Rums are aged in oak casks, which are often second-fill barrels that once held either bourbon or sherry (much like scotch producers reuse barrels). When cachaça is barrel-aged, it is aged in casks made from hardwoods indigenous to Brazil.