June 17, 2019 / 12:10 PM / a month ago

Brazil's Copersucar posts larger profit, cuts sugar sales

SAO PAULO, June 17 (Reuters) - Brazil’s Copersucar, the world’s largest sugar merchant, posted a net profit of 178 million reais ($45.72 million) in the 2018/19 crop (April-March), 20% more than in the previous year, as it sharply reduced sugar sales and boosted ethanol volumes.

According to a statement released on Monday, Copersucar, a partner of Cargill in the world’s largest sugar trader Alvean, increased slightly its revenues from the previous crop to 28.7 billion reais. The company said it moved 3.8 million tonnes of sugar in the season that ended in March versus 4.5 million tonnes in the previous crop year.

$1 = 3.8935 reais Reporting by Marcelo Teixeira

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