President Temer signs RenovaBio into law

In Brazil, O Globo newspaper reports that President Michel Temer has signed the law creating the National Biofuels Policy (RenovaBio), according to a publication in the Official Gazette on Wednesday.

In mid-December, the Senate concluded the vote on the matter, which should boost the sector in the country and at the same time collaborate on the use of renewable and less polluting fuels, according to industry representatives. The sugarcane industry has seen the new policy as a lifeboat to help get it out of its financial rut in a period of falling global sugar prices.

More on the story.