Brazil has taken the case to the World Trade Organisation as Chinese authorities unilaterally decided to cut down their demand of sugar in a move to protect domestic production.
Brazilian company FS Bioenergia inaugurated a corn ethanol plant, the first in the country, to produce 210 million liters year. The plant was built by a joint venture between the local agro-company Fiagril and US-based Summit Agricultural Group with investments of BRL 450 million (US$ 141.1m), said the Ministry of Agriculture, Livestock and Farming.
By R. Viswanathan (*) - India should take its cue from Brazil and invest in ethanol as a viable commercial substitute for costly petrol.
Brazil will pour 6.1 billion Reais (2.85 billion dollar) to fund renewable-power and bio-fuel technology research, accelerating its efforts to modernize its energy industry and shift away from a commodity-export based economy.
The Brazilian government has come to the rescue of the sugar-ethanol industry announcing that as of next May first the mandatory content of ethanol in gasoline will increase from 20% to 25%, taxes on the sugar-cane fuel will be eliminated and there will be soft loans to keep expansion going.
North-east Brazil is suffering its worst drought in decades, threatening hydro-power supplies in an area prone to blackouts and potentially slowing economic growth in one of the country's emerging agricultural frontiers.
A second global food price shock is gathering steam as bad weather decimates crops in the farming giants US, Brazil, Argentina, India, Russia, the EU and Australia that feed the world, according to market analysts.
Shell subsidiary that makes bio-diesel in Brazil has dropped controversial plans to buy sugar cane grown on land taken from indigenous people, according to Survival International.
Cuba is closing its once powerful Sugar Ministry in favour of a state holding company charged with pulling the sector out of a long decline, official media announced on Thursday.
Sugar output in Brazil, the world’s largest producer and exporter, will unexpectedly fall this year after freezing weather pared crop yields, the Agriculture Ministry said on Tuesday.