Brazil’s Sao Martinho reported to be on ethanol, sugarcane acquisition hunt

In Brazil, Bloomberg is reporting that the third-largest sugar refiner, Sao Martinho, has  commenced talks with other mills regarding potential acquisitions. The news comes in the wake of a doubling of global sugar prices, in part due to a failed sugarcane harvest in India.

Sugar is now trading at more than 23 cents per pound. According to news reports, Sao Martinho also engaged in talks earlier this year with Santelisa Vale before the sale of a majority stake to Louis Dreyfus & Cie.

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