Commodities reporter
Reese's Feed
Aug 15, 2014

Huge sugar discount spurs Brazil cane millers to stockpile

NEW YORK/SAO PAOLO, Aug 15 (Reuters) – Forward sugar prices
are at their biggest premium to cash in nearly five years,
prompting mills in Brazil and Thailand, the world’s top
producers and exporters, to hoard sweetener and keeping pressure
on prices.

Brazil’s biggest operators, Louis Dreyfus Corp’s
Biosev SA, Cosan SA and Sao Martinho
, disclosed data this week that showed they are
holding about 1.2 million tonnes of sweetener, significantly
more than last year. They also said they are withholding nearby
sales.

Aug 4, 2014

Fire controlled at Cosan’s Brazil sugar export terminal

SANTOS, Brazil, Aug 4 (Reuters) – Firefighters at the Port
of Santos contained a blaze at Cosan SA’s sugar
terminal early on Monday, but the damage threatened to disrupt
exports of the commodity from Brazil, the world’s largest
producer.

One of the company’s 11 warehouses at Santos, Warehouse 10,
looked totally destroyed, with a collapsed roof. Two other
warehouses appeared to have some degree of damage according to a
Reuters witness.

Aug 4, 2014

Fire hits major Brazil sugar export terminal

SAO PAULO, Aug 3 (Reuters) – Firemen at Brazil’s Santos Port
struggled on Sunday to contain a blaze at two sugar warehouses,
operated by producer Cosan SA, which threatens to
disrupt exports from the world’s biggest sugar producing nation.

The fire broke out at the sugar terminal at 4:30 pm local
time and 12 fire trucks were still trying to bring it under
control early into Monday morning, Sargent Rodrigues of the
Santos Fire Department told Reuters.

Jul 24, 2014

Brazil’s sugar output steady despite rains in early July – Unica

SAO PAULO, July 24 (Reuters) – Sugar output from Brazil’s
main center-south cane region stayed strong in the first half of
July, despite rains, at 2.55 million tonnes, little changed from
the 2.58 million tonne output in the prior two weeks, the cane
industry said.

In its latest biweekly crushing report on Thursday, industry
association Unica said cumulative sugar output since the start
of the season in April had reached 12.89 million tonnes by July
15, up 13 percent from the same period a year ago.

Jun 5, 2014

Brazil homeless group in peaceful march on World Cup arena

SAO PAULO, June 4 (Reuters) – Thousands of homeless workers on Wednesday marched peacefully on Brazil’s Arena Corinthians stadium, which is to host the opening game of the soccer World Cup next week, pressing their cause under the spotlight of the global sporting event.

The Workers Without Homes Movement, which police estimated mobilized more than 10,000 people to demand more government spending on transport, health, education and low-income housing, shut down one of Sao Paulo’s main highways to the stadium, which is fighting the clock to get ready for the June 12 event.

Mar 27, 2014

Cargill, Copersucar to form world’s No. 1 sugar trader

O PAULO, March 27 (Reuters) – U.S.-based
agribusiness trader Cargill and Brazil’s Copersucar
announced plans on Thursday to form a business to create the
world’s biggest sugar trader through a 50-50 joint venture.

The venture will combine Cargill’s trading and logistics
expertise and a global customer network that stretches from
China to Thailand with supply from Copersucar’s vast network of
47 mills, which produce 10 percent of the world’s sugar exports.

Mar 21, 2014

Brazil’s Biosev mill closing reflects deepening cane industry woes

SAO PAULO/NEW YORK, March 21 (Reuters) – Plans by Biosev SA
, Brazil’s No. 2 sugar and ethanol producer, to slash
costs and idle a mill due to a prolonged sector downturn are the
latest sign of the industry’s crisis amid weak prices and global
oversupply.

Biosev, controlled by French commodities trader Louis
Dreyfus, said on Thursday it plans to suspend
operations at its Jardest plant, one of its 12 mills, and
transfer the plant’s cane to be processed at nearby mills.

Feb 24, 2014

Brazil’s Cosan proposes $4.7 billion takeover of railway firm

SAO PAULO (Reuters) – Brazilian sugar and ethanol firm Cosan SA proposed a takeover on Monday of America Latina Logistica SA in a $4.7 billion deal that would form Latin America’s largest railway and logistics company.

Under the terms of the deal, shareholders of ALL (ALLL3.SA: Quote, Profile, Research, Stock Buzz), as America Latina Logistica is commonly known, would own most of the capital of the combined entity, while Cosan (CSAN3.SA: Quote, Profile, Research, Stock Buzz) would name the majority of its board members.

Feb 24, 2014

Brazil’s Cosan proposes takeover of railway firm in $4.7 bln deal

SAO PAULO, Feb 24 (Reuters) – Brazilian sugar and ethanol
firm Cosan SA proposed on Monday a takeover of America Latina
Logistica SA in a $4.7 billion deal that would form Latin
America’s largest railway and logistics company.

Under the terms of the deal, shareholders of ALL,
as America Latina Logistica is commonly known, would own most of
the capital of the combined entity, while Cosan would
name the majority of its board members.

Feb 14, 2014

Brazil’s big cane mills cut costs, capex against losses

SAO PAULO, Feb 14 (Reuters) – Weak sugar prices, government
fuel price controls and a year of frost and drought are forcing
Brazil’s listed sugar and ethanol companies to cut costs and
consider layoffs, as earnings reports this week have shown.

Local sugar and ethanol units controlled by Louis Dreyfus
, Cosan, Bunge, Tereos
and others see the cuts as essential, to stem losses until sugar
prices recover from four-year lows and they can limit or reverse
the negative impact of government policies on their
profitability.

    • 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."
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