MILLING COMPANIES BENEFIT FROM IMPROVED SUGAR MARGINS AND ETHANOL EXPORTS

摘要

Oct/Dec 2012 results of Brazil's listed sugar millers show that the sector was able to lower their per unit costs for sugar because of the longer campaign. This more than offset the impact of the lower sugar prices, which declined on the good cane crush and expected increases in the coming campaign. Another supportive factor for the sector was the strong demand for cane ethanol from the US because of the Advanced Biofuel mandate under the Renewable Fuel Standards. Hydrous ethanol production remained unattractive with y/y output declines reported for this quality.