LONDON/SAO PAULO, Oct 8 (Reuters) – Squeezed margins in
sugar mills, caused by depressed prices after years of global
over-supply, are hastening closures and consolidation in the
sector, potentially eroding global output and supporting prices.
The world is eating through a huge overhang of stocks after
four straight years of surpluses that have driven prices of the
sweetener to four-year lows, eroding mills’ financial margins.
SAO PAULO (Reuters) – Brazilian presidential candidate Marina Silva, an icon of the green movement, is cozying up to old adversaries in the sugar and ethanol industry as she seeks to win over the powerful farm lobby ahead of next month’s election.
Since entering the race in mid-August, Silva has picked a pro-agriculture congressman as her running mate, met repeatedly with agribusiness leaders and campaigned in the farm belt, eager to make allies in an industry that accounts for a quarter of Brazil’s economy.
SAO PAULO (Reuters) – Three years ago, a record surge in arabica prices spurred a wave of investment across coffee plantations in top grower Brazil, as farmers scrambled to fill a supply gap left by Central America after heavy rains damaged crops.
The following year, in 2012, Brazil’s output rose by 19 percent, hitting a record 38 million bags.
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
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
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
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
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.
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
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.
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.
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.
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
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.