Copersucar records higher profit in the 2018/19 crop; Sugar Sales Retreat

SÃO PAULO (Reuters)-The Brazilian Copersucar, the largest global trader of sweetener, presented a net profit of 178 million reais in the Harvest 2018/19 (April to March), which represents an expansion of more than 20% compared to the previous season, with a strong reduction in Sugar sales in favor of ethanol. Copersucar, which is Cargill's partner in the world's largest sugar dealer, Alvean, said in a statement on Monday that it had a slight increase in revenue compared to the last crop, to 28.7 billion reais. The company said it moved 3.8 million tons of sugar in the season ended in March, against 4.5 million tons in the previous crop year. The participation of ethanol in Copersucar's production mix reached 67.7%, compared to 57.6% in 2017/18.