December 5, 2017 / 11:48 AM / a year ago

Dreyfus sugar unit sees smaller Brazil crop, higher ethanol demand

SAO PAULO, Dec 5 (Reuters) - Brazil’s Biosev, the sugar and ethanol unit controlled by commodities trader Louis Dreyfus, said on Tuesday it expects a smaller cane crop in the country’s center-south region in 2018/19 at 586 million tonnes, down from 599 million tonnes in 2017/18.

The company said during a presentation for investors in Sao Paulo that rising oil (and gasoline) prices and the recovery of the economy should boost demand for cheaper ethanol in Brazil in coming months.

It also sees passage in Brazil’s lower house of a proposal to boost biofuels use as positive. (Reporting by Marcelo Teixeira; editing by Jason Neely)

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