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From the Media

Aug 10, 2022 - Eurenews

British oil major BP and U.S. commodities trader Bunge Ltd have put their Brazilian sugar and ethanol joint venture BP Bunge Bioenergia up for sale, newspaper Valor Economico reported on Tuesday. Abu Dhabi’s Mubadala and Brazilian energy company Raizen SA – a joint venture of Shell and Cosan SA – were among those interested to buy the company, said the report, citing sources familiar with the matter. JPMorgan will advise BP Bunge on the deal, Valor said, adding that the company’s assets were valued at between 9 billion and 10 billion reais (US$ 1.96 billion). In a statement sent to Reuters, Bunge reiterated it was assessing options to exit its participation in the sugar and bioenergy joint venture.

Aug 10, 2022 - Biofuels Digest

In Brazil, Platts reports analysts expect hydrous ethanol production to have risen more than 6% during the last half of July compared to year prior at 1.45 billion liters while they see anhydrous ethanol production having fallen nearly 5% to 931 million liters. For the year, total ethanol production is seen at just 1.3% higher at 2.38 billion liters. The overall cane crush for the two-week period is estimated at 48.0 million mt to 49.5 million, with an average estimate of 48.6 million, 3.6% higher than in 2021

Aug 10, 2022 - Reuters

Brazil's central bank said the 12-month inflation projection for the first quarter of 2024 "is consistent with the strategy of inflation convergence to around the target over the relevant horizon", minutes from its last policy meeting showed on Tuesday. The minutes of the Aug. 3-4 meeting, when the rate-setting committee known as Copom raised the benchmark rate to 13.75%, showed policymakers will assess whether the prospect of maintaining the Selic rate "by itself for a sufficiently long period will bring inflation to around the target in the relevant horizon".

Aug 10, 2022 - Yahoo Finance

President Jair Bolsonaro is unlikely to contest the outcome of October's election, Brazil's top public prosecutor said on Tuesday, playing down fears among business leaders, diplomats and politicians about the president's anti-democratic rhetoric. Prosecutor General Augusto Aras told journalists that a refusal to accept electoral defeat would be "an affront to democracy," but added: "I'm not worried about this happening. Brazilian institutions are committed to democracy."

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