In Brazil, Reuters is reporting that Brazil’s Cosan, sugar and ethanol producer’s net income fell a full 83% for the quarter ending December 31. The main contributing factor was the increase cost of sugar due to crops being smaller and not able to keep up with demand. Unusually dry weather in Brazil during 2010 led to a drop in Cosan’s sugar output by 500,000 tonnes. Cosan sugar crushing operations in 2010 were down 21% from 2009, reaching only about 11.3 million tonnes. Cosan purchased crystallized sugar to make up the shortfall. Reuters reported that earnings for Cosan fell from 490.4 million reais in December of 2009 to 410.5 million reais in the quarter ending December 31, 2010.
More on the story.
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- Cosan earnings drop on hedging losses; Shell JV "very advanced"
- Shell, Cosan sign up for $12B JV in ethanol, power, advanced biofuels
- Cosan launches new 90 Mly ethanol, power project in Brazil
- Raizen projects huge US exports this year
- TMO and Usina Santa Maria to launch first 2G commercial cellulosic ethanol production plant
- Top Biofuels Tweets: "US Brazil Biofuels Talk Helps Cosan."
- Brazil increasing ethanol imports to address shortages
- I Love You, You’re Perfect, Now Scale
- I Love You, You're Perfect, Now Scale
- Cosan, Shell to raise ethanol output to 1.3B gallons by 2016
- Cosan profits tumble
- Petrobras seen producing 29% more ethanol during 2013/14
- UNICA says 2010/11 sugarcane harvest will jump 10 percent; 15.6 percent increase in ethanol – no land use conversion;
- UNICA says cane harvest up, sugar yields down more; overall, lower stocks for ethanol