AUGUST 10, 2017 / 5:02 PM
By Marcelo Teixeira
SAO PAULO, Aug 10 (Reuters) – Cosan SA Indústria e Comércio expects ethanol sales to yield better returns than sugar across some Brazilian states, a factor that may prompt one of the country’s largest energy and infrastructure companies to fine-tune its current output mix.
Raízen Energia, a 50-50 joint venture between Cosan and Royal Dutch Shell Plc that is the world’s No. 1 sugar producer, could adjust the amount of sugar and ethanol it produces if price conditions for the biofuel improves, Cosan’s investor relations head Paula Kovarsky said on a conference call on Thursday.
Raízen earmarked 57 percent of cane to sugar production in the second quarter, higher than the 55 percent it did a year ago. Simultaneously, Raízen has reduced sugar hedging on an annual basis on hopes of a mid-term recovery in international prices, she added. read more
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