COFCO Brazil expanding ethanol production at three sugar mills

In Brazil, Reuters reports that on the back of flattened sugar prices due to India’s continual production and export of too much sugar, COFCO has invested heavily in ethanol production with projects ongoing to expand capacity at three of its four sugarcane mills in the country. With 14 cents per pound of sugar seen triggering Indian exports and Brazilian mills needing 15 cents per pound before sugar becomes more profitable than ethanol, the company’s CEO in Brazil expects there to be at least another year of flat prices and Brazilian mills continuing to favor ethanol.