Sugar prices are near record lows causing Brazilian companies to reduce their output in favor of a more profitable option: producing fuel.
Brazil has become a pioneer in using ethanol to power light vehicles. CCTV’s Paulo Cabral filed this report from Sao Paulo.
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Brazil's clever solution to fuel the country
Sugar prices are near record lows causing Brazilian companies to reduce their output in favor of a more profitable option: producing fuel.More details:
- Brazilian companies are responding to the decline in sugar production by converting more of the sugarcane into ethanol rather than into Sugar.
- The country has become the world’s leader in ethanol production by converting sugarcane into a clean, low-carbon bio-fuel. Almost half of Brazil’s gasoline needs are now met with sugarcane ethanol.
- Sugar production in 2015 around the world is expected to exceed demand for a fifth straight year.