April 23, 2020 / 3:39 PM / a month ago

Brazil's Cosan CEO sees increased difficulty for some sugar companies

NEW YORK, April 23 (Reuters) - Sugar and ethanol company Cosan SA expects increased financial difficulties for some Brazilian companies in the sector as demand for the biofuel falls and prices for the sweetener are near a 12-year low.

Cosan chief executive officer Luis Henrique Guimaraes said during a call with analysts, however, that the company is not looking at potential consolidation opportunities as a result of the situation. Cosan partners Royal Dutch Shell Plc in the 50-50 venture Raizen, the world’s largest sugar maker. (Reporting by Marcelo Teixeira Editing by Chizu Nomiyama)

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