Brazilian competition watchdog OKs Czarnikow’s 49% of new ethanol venture

In Brazil, Reuters reports that competition authorities have greenlighted UK sugar broker Czarnikow’s 49% participation in a new ethanol trading joint venture with Vale do Tijuco Açúcar e Álcool SA and Canápolis Açúcar e Etanol SA. Expansion into ethanol a new move by the British firm that is one of the largest and oldest sugar brokers globally. The new firm hasn’t announced what its trading goals are nor the expected investment, but Reuters did mention the Brazilian partners in the deal have recently decided to expand their mill production capacities.