Commodities reporter
Reese's Feed
Aug 13, 2015

Brazil’s Copersucar loses top sugar mill as industry woes deepen

SAO PAULO, Aug 13 (Reuters) – Copersucar, Brazil’s biggest
sugar trader, quietly parted ways with its biggest milling group
in May, the CEO of the milling group, Grupo Virgolino de
Oliveira (GVO), said on Thursday, reflecting a deepening crisis
in the global sugar market as prices languish near seven-year
lows and debts mount.

GVO, one of the founding members of Copersucar in 1959, is
the latest mill to break commercial ties with the trader. That
curbs Copersucar’s marketing power in Brazil, the world’s top
grower, and in the global market just a year after it set up
Alvean, a joint venture with agricultural merchant Cargill.

May 29, 2015

Copa Airlines still expanding despite Brazil slowdown

SAO PAULO, May 29 (Reuters) – Panama’s Copa Airlines plans
to expand its route network out of Latin America despite the
challenges it currently faces in Brazil, the region’s biggest
market, the company’s chief executive officer said on Friday.

The carrier, a subsidiary of Copa Holdings SA, sees
further potential in a business model built on linking small and
mid-sized Latin American cities with the United States through
its Panama City hub, Chief Executive Pedro Heibron told Reuters
at an event marking the airline’s 15 years in Brazil.

May 6, 2015

Farm sector no savior for Brazil’s economy as credit tightens

GUAXUPE, Brazil, May 6 (Reuters) – When Brazil’s economy
faltered in the past, the farm sector often helped break the
fall with steady growth. But that trend may not hold up this
year under tougher credit conditions and weaker commodities
prices.

The government’s decision to pare back subsidies on
agricultural loans as part of a fiscal austerity push is already
weighing on industries that support the farm sector, which
makes up a quarter of the economy.

Mar 12, 2015

Brazil steelmaker CSN hopes strong dollar will double U.S. sales

SAO PAULO, March 12 (Reuters) – Brazilian steelmaker Cia
Siderurgica Nacional SA expects to double its sales
on the U.S. market in 2015 to 600,000 tonnes with the help of a
stronger dollar, the company’s head of sales said on Thursday.

If U.S. sales reach that level, they would account for
around 10 percent of the company’s total steel sales in 2015,
projected at 6.2 million tonnes, Luis Martinez said on an
earnings call with analysts.

Feb 26, 2015

Brazil government extends offer to truckers to end strike

SAO PAULO (Reuters) – The Brazilian government told truckers and transport companies late Wednesday it would extend a year of free financing for vehicles and pass a law that would benefit the sector if protesters ended a crippling strike now in its eighth day.

It is still unclear whether the late night offer will satisfy the strikers, whose actions have disrupted food and fuel supplies in 10 of Brazil’s 26 states.

Feb 25, 2015

Brazil truckers strike drags on as government talks stall

SAO PAULO (Reuters) – Truckers who blocked roads in 10 Brazilian states in an eighth day of protests struggled to find a solution in talks with the government on Wednesday to end a strike that has disrupted food and fuel supplies.

Agriculture Minister Katia Abreu said after a meeting with truckers in Brasilia on Wednesday afternoon that she was confident both sides would reach agreement.

Feb 25, 2015

Brazil truck strike grinds into 2nd week, access to main port cleared

SAO PAULO, Feb 25 (Reuters) – Truckers staged nearly 100
road blocks across Brazil’s farm belt on Wednesday as protests
stretched into their eighth day, though access to the country’s
biggest port was cleared after police clashed with protesters
who had briefly halted traffic there.

The steadily widening blockades have sparked growing fuel
and supply shortages and disrupted the harvest of a record
soybean crop across at least 10 of Brazil’s 26 states.

Feb 7, 2015

Brazil’s Rousseff popularity plunges amid scandal, bad economy

SAO PAULO (Reuters) – Brazilian President Dilma Rousseff’s popularity has plunged by nearly half since her recent re-election as a severe government corruption scandal, an economic slowdown and surging prices for electricity, gasoline and bus fares left voters feeling misled.

The Datafolha poll of 4,000 people published on Saturday showed those interviewed who rated Rousseff’s performance as “excellent or good” fell to 23 percent from 42 percent in December, just after she won her second term in a tight race.

Feb 2, 2015

Brazil to raise ethanol blend in gasoline to 27 pct on Feb 15

BRASILIA, Feb 2 (Reuters) – Brazil’s struggling sugar and
ethanol mills got more good news on Monday after the government
granted an expected increase in the national blend of the
biofuel in gasoline to 27 percent on Feb. 15 from the current 25
percent, industry officials said.

The higher blend is the latest of several measures taken by
the government expected to have a positive effect on the
industry’s bottom line going forward.

Dec 3, 2014

Brazilian companies cut output, sell power instead in weak economy

SAO PAULO, Dec 3 (Reuters) – In a sign of the distortions
plaguing Brazil’s stagnant economy, a wide range of companies
are sharply cutting back output of their main products to
instead sell electricity back into the national grid because it
is more profitable.

The trend includes sugar, ethanol, steel, aluminum and
chemical companies, a Reuters analysis of company earnings
statements and other guidance shows.

    • About Reese

      "I'm a ten-year Reuters commodities reporter in Brazil. The economic coming of age of the emerging markets has elevated the importance of the country's mineral and agricultural potential. After a decade here, I still feel as though I've only scratched the surface in understanding the country's wealth and diversity in commodities markets ranging from soybeans, sugar, coffee and orange juice to iron ore, petroleum and timber."
    • Contact Reese

    • Follow Reese