News International Sugar Journal

Some 60 sugar mills in centre-south Brazil face probable closure during 2013/2014 [Registered]

Of the 330 sugar /ethanol plants in central-southern Brazil, accounting for 90% of all the sugar cane processed in the country, likelihood is that 60 will probably close down over the next two to three years, according to Industry Union Cane (UNICA), reported Exame.com. Further, UNICA confirmed that at least ten mills are unlikely to process cane in 2013/2014, due to financial difficulties. Following the credit crunch in 2008, with access to cheap capital drying up and rise in interest rates, new build activity in the sector has slowed down considerably. In contrast, 36 plants have gone into bankruptcy protection…

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