Brazil's Copersucar to expand in sugar-based ethanol
October 02, 2008
by Jeff Gelski
SAO PAULO, BRAZIL — Sugar and ethanol producers belonging to a Brazilian cooperative have created a new company, Copersucar S.A., a move designed to improve investment capacity and provide the flexibility to establish strategic partnerships in Brazil and overseas. Copersucar has tanks in Houston and New York and plans to place about 600 million liters of ethanol from the 2008-09 Brazilian sugar crop into the North American market.
As a private sugar exporting company, Copersucar said it accounts for about 5% of all commercial transactions in the international market. In Brazil, Copersucar S.A. accounts for 14% of the sugar commercialized and 14% of the ethanol supply. Copersucar has 33 mills in Brazil and expects to process 70 million tons of sugar cane from the 2008-09 crop. Copersucar expects to triple in size and commercialize more than 200 million tons by 2018.
Copersucar said it expects to commercialize 4.3 million tons of sugar from the 2008-09 crop, up 22% from the previous crop, and 3.8 billion liters of ethanol, up 18%. It projects exports of 3 million tons of sugar from the 2008-09 crop, up 25%, and 1 billion liters of ethanol, up 50%.
Copersucar said it is the exclusive producer and supplier of sugar of refining quality for large global mills in Europe, Asia, Africa, the Middle East and Canada. The company has a trade office and ethanol storage tanks in Rotterdam, Holland, and exports to 10 European countries. Copersucar expects sales of 300 million liters of ethanol from the 2008-09 crop to that region. Other countries receiving exports include Japan, India, Korea, Nigeria and the Persian Gulf.
Sugar and ethanol producers belonging to the Cooperativea de Produtores de Cana-de-Acucar, Acucar e Alcool do Estado de Sao Paulo have become shareholders of Produpar, the holding company controlling Copersucar S.A.