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Brazil to Triple Sugar Exports
BRAZIL - The Brazilian sugar cooperative Copersucar has reported it will triple exports in the next 10 years and become the world's largest private exporter of sugar and sugar products.Brazil's booming sugar and ethanol industry, has been going through an aggressive consolidation in recent years, with cane output expected to double by 2015.
The Coop, which has 33 mills in production currently throughout Brazil, will produce 70 million tonnes this season.
The company will have a turnover of $200 million this year and next year company says it will be in a position to buy cane from individual producers.
The company's exports will be 3 million tonnes of sugar and 1 billion litres of ethanol.
Meanwhile, Japan Biofuels Supply LLP, a joint venture by 10 refiners, is to buy about 200,000 kilolitres of bioethanol a year from Brazil.
The Japanese government said yesterday it is considering revising an existing law to require oil, power and gas companies to meet numerical targets for using alternative energy.
Japanese refiners already agreed to raise the amount of bioethanol they blend with gasoline from about 7,000 kilolitres in the year started April to 360,000 kilolitres in the 2010 financial year, according to the Petroleum Association of Japan.
The import deal, first agreed by former Japanese trade minister Akira Amari in a meeting with his counterpart Miguel Jorge in July, will help Japan meet a target to cut emissions by as much as 80 per cent by 2050.
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