Cane bagasse-based cogenerated power increased by 4% in 2019 compared to the previous year according to JournalCana.
With sugar prices rising recently, Brazilian mills have fixed prices in sales contracts for about 12 million tonnes of sugar for the 2020/21 harvest, compared to 10.2 million tonnes in the same period of 2019/20, according to Archer Consulting.
Brazil will not drop the WTO case against India as President Bolsonaro’s state visit commences [Full subscriber]
Brazil is agreeable about pursuing bilateral talks with India on the issue of subsidies and pricing policies supporting the sugar industry, according to local press reports.
Brazil – Biosev faces asset sales as the parent company withholds further cash injection [Full subscriber]
Debt-restructuring talks at Louis Dreyfus-controlled sugar and ethanol producer Biosev are about to focus on possible asset sales, as the prospect of another big capital injection from the parent company fades, reported Bloomberg.
Brazil – BNDES to finance two projects to upgrade cane production worth US$32 million [Full subscriber]
The Brazilian development bank BNDES recently approved financing of $ 98.7 million (US$ 24.48 million) to Canápolis Açúcar e Etanol SA and BRL30 million (US$7.46 million) to Vale do Paracatu Distillery to expand and upgrade their cane production operations.
The Adecoagro group will be investing BRL445 million (US$108.7 million) in expanding and upgrading sugarcane production operations at its plantations serving the company’s two plants in lvinhema. and Angelica, both in Mato Grosso do Sul.
The biotech start-up Amyris plans to build a factory in Barra Bonita, Sao Paulo state. Costing US$75 million, the factory will produce zero-calorie sweeteners from sugar cane.
On the back of RenovaBio policy, the biofuel sector is expanding as sugar-energy groups invest in increasing capacity.
Biosev SA, the Brazilian sugar and ethanol unit controlled by commodities trader Louis Dreyfus, posted a net loss of BRL304 million (US$73.01 million) in the last quarter, 95% larger than a year earlier, reported Reuters.