Brazil’s Cosan Rises as Sugar, Ethanol Prices Climb
Cosan SA Industria & Comercio, the world’s biggest sugar-cane processor, gained to a 15-month high as the price of the sweetener rose in New York and demand for fuel pushed up ethanol prices in Chicago. Cosan rose 3 percent to 24.40 reais in Sao Paulo trading, the highest level since September 2008.
Sugar has almost doubled this year as excess rain hampered harvesting in Brazil and India, the largest producers, extending a global supply deficit.
Cosan, which got about 41 percent of revenue from ethanol sales last year, said Dec. 24 that a 1.2 billion reais ($688.9 million) contract with ALL America Latina Logistica SA, Latin America’s biggest railroad operator, to expand ALL’s transport capacity is valid starting from that date.