Trader: Sugar price needs to fall to spur more Brazilian ethanol output

02/4/2013 | Bloomberg

Sugar prices have fallen 39% since 2011, but they may need to decline further to spur Brazil's sugarcane mills to favor ethanol production, said Jonathan Drake, chief operating officer of Singapore-based trading firm RCMA Commodities Asia. The price of sugar might need to drop to 16 cents per pound to trigger the switch to make more ethanol, Drake said.

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