Brazil’s Sugar-Cane Industry Won’t Benefit From Fuel-Price Rise
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Brazil’s ethanol mills won’t benefit from state-run oil company Petrobras’s decision to raise the price of gasoline, which competes against the sugar-cane based fuel at the pump, and diesel.
An 8 percent increase in diesel prices will boost production costs for mills, offsetting the gains from a 4 percent rise in gas prices, sugar-cane industry group Unica said Nov. 29 in a statement.