BELO HORIZONTE, Brazil, Sept 12 (Reuters) – Despite plunging
arabica prices, the smoother coffee bean will struggle to regain
lost market share in big roasters’ blends after high prices over
the past several years drove them to less expensive robusta
substitutes, specialists said on Wednesday.
In the medium to long term, the prospects for cost efficient
arabica producers look bright, both for milder Central American
and Colombian washed beans as well as the massive body of
Brazilian naturals, participants at the IV International
Conference on Natural Arabicas said.
RIO DE JANEIRO, Sept 6 (Reuters) – OGX, the debt-laden
Brazilian oil company, said on Friday it has called in a promise
from controlling stakeholder Eike Batista to start injecting $1
billion into his empire’s flagship company while it renegotiates
The company’s stock surged on the news, closing up 27
percent at 0.52 real, and its bonds also reacted positively.
SAO PAULO, Aug 15 (Reuters) – Brazil’s JBS SA,
the world’s largest meat producer, expects profit margins from
its U.S. poultry division to improve in the fourth quarter of
2013 due to a bumper corn harvest that will bring down feed
costs, Chief Executive Wesley Batista said on Thursday.
Residual high costs for corn and other feeds would likely
continue in the third quarter for Pilgrim’s Pride, the
company’s U.S. poultry unit, but then start to fall in the
fourth quarter, helping profit margins, he said.
SAO PAULO, Aug 13 (Reuters) – Brazil’s São Paulo state will
sue German engineering giant Siemens to recoup public
funds its governor said it lost to a cartel that fixed prices
for public transit construction, equipment and upkeep.
“We are going to open a case against Siemens for damages to
public coffers and the state of São Paulo and to demand total
reimbursement,” Governor Geraldo Alckmin told reporters on
SAO PAULO, Aug 6 (Reuters) – Brazil’s sugar and ethanol
industry continues to invest billions of dollars annually in
mechanization, warehouses, ports and biofuel pipelines, even
though new mills are off the table for now, local leaders in the
sector said on Tuesday.
In the heyday of Brazil’s ethanol industry, more than 30 new
mills opened in 2008/09, but over the past year, only two new
mills opened and they were largely carry through investments of
bigger, earlier projects. Mills can produce either sugar or
SAO PAULO (Reuters) – Last week’s frosts in southern Brazil damaged nearly a fifth of the unharvested cane crop in the principal growing region, an event likely to cut sugar exports from the world’s largest producer, agriculture research company Datagro said Wednesday.
Severe early morning frosts on July 24 and 25 in three of Brazil’s top sugar-cane states devastated large areas, Datagro President Plinio Nastari told Reuters. The cold blight comes at the peak the crushing season when more than half of Brazil’s expected record 590-million-tonne crop remains unharvested.
SAO PAULO (Reuters) – Last week’s frosts in southern Brazil damaged nearly a fifth of the 365 million tonnes of centre-south sugar cane yet to be harvested, potentially curbing output from the world’s largest exporter, industry research company Datagro said on Wednesday.
Datagro President Plinio Nastari told Reuters that severe frost on July 24 and 25 in southern cane growing regions may have killed entire fields, which would likely need to be replanted.
SAO PAULO, July 16 (Reuters) – Ethanol demand in Brazil rose
24 percent in June from a year ago, according to fuel
distributors, signaling a shift among motorists that will help
shrink the global sugar glut and reduce Brazil’s dependence on
As a global glut in sugar pushes prices near three-year
lows, Brazil’s cane industry association Unica is likely to
revise down its official forecast for sugar output from 35.5
million tonnes seen in April to no more than last year’s 34.1
million tonnes, Unica’s technical director, Antonio Padua
Rodrigues, said on Tuesday.
SAO PAULO, June 26 (Reuters) – A strong dollar has prompted
Brazilian mills to sell sugar for export, but rain, growing
demand for ethanol and drought in the northeast have contained a
price surge of the sweetener on the international market for
Accounting for half the global exports in sugar, Brazil is
in the peak of crushing a record 35.5 million tonnes of sugar
from its main center-south cane crop, according to the cane
industry association, Unica, which will release its latest tally
of the crush on Wednesday afternoon.
SAO PAULO, June 4 (Reuters) – Brazil plans to vote on a bill
in the coming weeks to reopen large areas of the Amazon to sugar
cane mills, rekindling fears that ethanol production could
accelerate deforestation and create a major marketing challenge
for the country’s biofuels industry.
Environmentalists are concerned Congress’ vote could
overturn a ban on cane expansion in the region that went into
place in 2009 and increase pressure on land use in areas that
amount to nearly a third of the broader Amazon region in Brazil.