4/12/2010

U.S. agribusiness major Bunge will spend $750 million to expand its cane mills in Brazil, according to newspaper reports citing Pedro Parente, an executive with Bunge's Brazilian unit. The investment is part of Bunge's $2.8 billion, three-year plan to penetrate the Brazilian sugar and ethanol sector, the report added. The $1.5 billion acquisition of Brazilian cane miller Moema made Bunge the third-largest sugar-and-ethanol group in Brazil.

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