Brazil to give R$970 million credit for ethanol and R$4 billion in crop loans

| April 25, 2013

In Brazil, Bloomberg reports that Finance Minister Guido Mantega announced that effective May 1, R$970 million in credits as an offest to the R$0.12/liter ethanol tax, and as much as R$4 billion for crop renewal loans for 2013, along with a R$2 billion reais line of credit to stockpile ethanol. President Dilma Rousseff is quoted as stating, “The ethanol sector is here to stay and, from time to time, we need to revisit it to see what we can do to help our producers… Sometimes the price provides returns, other times it doesn’t.”

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Category: International

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