Colosseum a.s. (Colosseum a.s.)
Commodities  |  February 12, 2013 13:14:28

Brazil intends to increase the share of production of ethanol from sugar cane

ColosseumThe largest price increase for the past week recorded in yesterday's trading session on the exchange ICE Futures U.S. The most active futures contract for raw sugar. This was due to speculation by which processors of sugar cane production in Brazil will focus more on the production of ethanol than sugar itself. In a statement, the company Marex Spectron Group, the share of sugar cane, which will be in Brazil in the new marketing year, which begins in April, used for sugar production, decreases to about 44%. According to the industry group Unica, this share this year of 50%. According to independent sources in the future Brazil plans to cut taxes to ethanol, and to support domestic production and use of that fuel. Futures on raw sugar with a delivery date in March strengthened during yesterday's trading session on the exchange ICE Futures U.S.about 1.7% to the closing price of 18.44 cents per pound weight.

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