US SENATE BLOCKS MEASURE ENDING ETHANOL SUBSIDIES
WASHINGTON, June 14 (Reuters) - A proposal to end subsidies for the U.S. ethanol industry failed a key vote in the Senate on Tuesday, falling far short of the support it needed to move forward.
The Senate voted 59 to 40 against limiting debate on the measure from Republican Tom Coburn that would have ended the federal ethanol tax credit and the tariff on ethanol imports before they were scheduled to expire at the end of year.
BRAZIL CS SUGAR OUTPUT PICKS UP IN LATE MAY-UNICA
SAO PAULO, June 13 (Reuters) - Helped by dry weather, sugar output in Brazil's center-south finally picked up in the second half of May after a troubled wet start to the season, data from the cane industry association Unica showed on Monday.
Sugar production in the two-week period totaled 2.37 million tonnes, up 6.8 percent from a year ago, with cane crushing reaching 42.7 million tonnes, an increase of 5.5 percent from the same period in 2010.
BRAZIL'S COSAN HIRES MARKET MAKER TO ADD LIQUIDITY
SAO PAULO, June 13 (Reuters) - Cosan , Brazil's largest sugar and ethanol group, said on Monday it hired a market maker to improve liquidity of its common shares traded on the Sao Paulo stock exchange.
XP Investimentos Corretora was hired to trade Cosan shares for 12 months starting immediately. The period could be automatically extended for other 12 months, a securities filing said.
BRAZIL PROPOSES RULES TO BOOST ETHANOL STOCKS
SAO PAULO, June 11 (Reuters) - Brazil's energy regulator has proposed rules to ensure sufficient stocks of ethanol fuel, its first move in plans to increase regulation of the stagnant industry and prevent a repeat of recent supply shortages.
Despite high prices for the biofuel and a massive expansion in the domestic fleet of cars that use it, Brazil's roughly $30 billion a year sugar cane industry has struggled with sluggish investment and insufficient supply. Officials from President Dilma Rousseff's government have criticized ethanol producers for what they describe as a failure to invest and plan.
SCRAP BIOFUEL SUPPORT TO CURB FOOD COSTS-AGENCIES
BRUSSELS, June 10 (Reuters) - Governments should scrap policies to support biofuels because they are forcing up global food prices, according to a report by 10 international agencies including the World Bank and World Trade Organization.
The report adds to growing opposition to biofuels targets and subsidies such as those in Europe, Canada, India and the United States.
U.S. ETHANOL PRICES HIT 3-YEAR HIGH
NEW YORK, June 9 (Reuters) - U.S. ethanol prices hit their highest level in about three years on Thursday after cold, rainy weather and flooding cut corn plantings, but the hike in the additive's costs was not expected to boost gasoline prices.Cash ethanol rose 7 cents in the Midwest to $2.75 a gallon, a level not seen since 2008.
Even the thinly traded CBOT ethanol futures contract rose nearly 3 percent to $2.761 a gallon, a three-year high for the spot month, on corn's rally to a record high.
MOZAMBIQUE TO BOOST BIOFUELS OUTPUT, CUT IMPORTS
MAPUTO, June 9 (Reuters) - Mozambique plans to boost biofuels production and introduce fuel blending next year in a bid to cut fuel imports, the energy minister said on Thursday.
The government expects to save about $22 million in the first year on petrol and diesel imports from the current $500 million it spends annually.
US ETHANOL PRODUCTION CLIMBS TO 915,000 BPD-EIA
KANSAS CITY, June 8 (Reuters) - U.S. ethanol production rose to the highest level since late January in the latest reporting week, even as stocks dropped to their lowest in six weeks, the government said on Wednesday.
Ethanol output totaled 915,000 barrels per day (bpd) for the week ended June 3, up 6,000 bpd from the prior week, the Energy Information Administration said.
BRAZIL APRIL GASOLINE SALES HIT RECORD HIGH
RIO DE JANEIRO, June 8 (Reuters) - Gasoline sales in Brazil reached a new record in April, as drivers switched over to the fossil fuel when the price of widely used ethanol biofuel spiked, distributors' association Sindicom said on Wednesday.
Sindicom associates, which account for nearly 80 percent of the Brazilian gasoline market, reported sales of 2.4 billion liters in the month, up from 1.8 billion liters in April 2010.
BRAZIL MILLS TO SHIFT MORE CANE TO ETHANOL-ANALYST
SAO PAULO, June 8 (Reuters) - Brazil's center-south could divert slightly more cane to ethanol production than initially expected in the current season as prices of the fuel remain buoyed by strong demand, Job Economia analysts said Wednesday.
After reaching record levels earlier this year, prices of the fuel slumped in early May with the start of the 2011/12 cane crop harvest but then stabilized again in recent weeks.
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