Edition:
India

Luciano Costa

UPDATE 1-Brazil sugar output, ethanol exports soar; dryness hits cane yields -industry group

09 Oct 2020

(Adds data, comments from industry group Unica) By Luciano Costa and Marcelo Teixeira SAO PAULO/NEW YORK, Oct 9 Sugar production and ethanol exports increased sharply in Brazil in September as mills enter the final weeks of the current season, but the extremely dry weather started to hit cane agricultural yields, industry group Unica said on Friday. Brazil's center-south sugar output reached 2.86 million tonnes in the second half of September, 59% more than in the same period a year earlier, as mills sharply favor the sweetener in their production strategies at the expense of ethanol. Plants crushed 14% more cane in the period, or 40.22 million tonnes, with above-average dry weather boosting harvest pace. However, Unica said the excessive dry climate has started to hurt agricultural yields. Based on data from 90 mills in September, Unica said average yield was 71.97 tonnes of cane per hectare, 1.4% less than seen a year earlier. "That is still preliminary data, but shows a change on what we have seen so far in the season," said Unica's technical director Antonio de Padua Rodrigues. Yields this year had been higher than last year all the way from the start of the crop in April. Unica said ethanol exports increased 65% in September to 331 million liters, as mills take advantage of the weak currency to boost foreign sales. See below detailed figures from Unica's crop report (cane and sugar in million tonnes, ethanol* in billion liters, total recoverable sugar-TRS in kg per tonne): BRAZIL'S CENTER-SOUTH - 2ND HALF OF SEPT. (ANNUAL COMPARISON) 2019/20 2020/21 % CHANGE CANE CRUSH 35.20 40.22 14.26 SUGAR OUTPUT 1.79 2.86 59.57 ETHANOL OUTPUT 2.23 2.16 -3.30 TRS (kg/T) 157 161 2.58 CANE TO SUGAR 34% 46% BRAZIL'S CENTER-SOUTH CUMULATIVE DATA - 2019/20 VS 2020/21 2019/20 2020/21 % CHANGE CANE CRUSH 474 499 5.30 SUGAR OUTPUT 21.84 31.95 46.23 ETHANOL OUTPUT 25.34 23.44 -7.47 TRS (kg/T) 136 142 4.42 CANE TO SUGAR 35% 46% Source: Cane Industry Group Unica *Includes corn-based ethanol (Reporting by Luciano Costa and Marcelo Teixeira Editing by Chris Reese and Grant McCool)

Energy trading in Brazil attracts banks looking for their next IPO

07 Oct 2020

SAO PAULO Brazil's energy sector is bracing for more mergers, initial public offerings and the creation of new energy trading units in the next few years, analysts told Reuters, as historically low interest rates send banks looking for growth segments, such as energy.

Exclusive: Vale's mining dams are still a risk, company must do more, Brazil prosecutor says

19 Sep 2020

RIO DE JANEIRO/SAO PAULO Despite two major deadly mining disasters since 2015, Brazilian iron ore miner Vale SA has not complied with a number of commitments signed with authorities to prevent a third disaster, federal prosecutor Edison Vitorelli told Reuters.

Brazil extends tariff-free ethanol imports, opens trade talks with U.S.

12 Sep 2020

BRASILIA/SAO PAULO Brazil's government will extend a tariff-free ethanol import program with the United States for 90 days starting Sept. 14, the foreign ministry said in a statement on Friday.

UPDATE 1-Brazil extends tariff-free ethanol imports, opens trade talks with U.S.

12 Sep 2020

BRASILIA/SAO PAULO, Sept 11 Brazil's government will extend a tariff-free ethanol import program with the United States for 90 days starting Sept. 14, the foreign ministry said in a statement on Friday.

Brazil state seeks $4.8 billion Vale asset freeze over dam disaster

27 Aug 2020

SAO PAULO Authorities from Brazil's Minas Gerais state are seeking a freeze on nearly $5 billion in assets from miner Vale SA as a partial payment to cover economic and other damages from last year's deadly Brumadinho dam disaster.

Brazil's Omega Geração buys stake in EDF Renewables wind farms

24 Aug 2020

SAO PAULO Renewable energy company Omega Geração SA announced a binding agreement on Sunday to acquire a 50% stake in wind farms owned by France's EDF Renewables in the Brazilian state of Bahia.

Exclusive: Brazil energy trading firm 2W hires banks for $282 million IPO - sources

17 Jul 2020

SAO PAULO Brazilian energy trading firm 2W Energia has hired banks to manage an initial public offering which may reach up to 1.5 billion reais ($281.48 million), three sources with knowledge of the matter said on Thursday.

Brazil's aviation gasoline market disrupted amid quality concerns

13 Jul 2020

SAO PAULO Brazilian state-run oil firm Petrobras has "preventively" stopped supplying imported aviation gasoline after chemical tests on an imported batch raised potential issues, a move that caused major fuel distributors BR Distribuidora and Raizen to suspend the sale of the product, according to filings on Monday.

UPDATE 2-Brazil's aviation gasoline market disrupted amid quality concerns

13 Jul 2020

SAO PAULO, July 13 Brazilian state-run oil firm Petrobras has "preventively" stopped supplying imported aviation gasoline after chemical tests on an imported batch raised potential issues, a move that caused major fuel distributors BR Distribuidora and Raizen to suspend the sale of the product, according to filings on Monday.

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