ADVFN - Advanced Financial Network.
HOME» NYSE » C » CZZ Stock Price » CZZ Stock News

Cosan Limited Cl A Share News

 Cosan Limited Cl A Stock Price
CZZ Stock Price
 Cosan Limited Cl A Stock Chart
CZZ Stock Chart
 Cosan Limited Cl A Stock News
CZZ Stock News
 Cosan Limited Cl A Company Information
CZZ Company Information
 Cosan Limited Cl A Stock Trades
CZZ Stock Trades

Subpar Rainy Season Threatens Brazil's Sugarcane Crop

--Insufficient rains since early February could damage Sao Paulo, Parana sugarcane crops --As dry season approaches, additional rain unlikely to make up for shortfall --Brazil sugarcane crop key for world sugar markets, local ethanol fuel prices. By Paul Kiernan Of DOW JONES NEWSWIRES SAO PAULO -(Dow Jones)- Weather worries are creating headaches for a second straight year in Brazil, the world's top sugar producer and exporter, where insufficient rains are smothering hopes for the sugarcane crop. The main growing regions of Sao Paulo and Parana states, which together account for more than 60% of Brazil's sugarcane, have seen about half as much rainfall as average since the start of February, according to Brazil's Somar Meteorologia. "The situation here is quite critical," said Joao Guilherme Iglezias, director of agricultural operations at Agroterenas, a cane supplier to Royal Dutch Shell PLC's (RDSA) and Cosan SA's (CSAN3.BR) sugar and ethanol joint venture Raizen. "This time of year is when the cane normally grows and develops a lot, we've been missing a lot of rain, and that will definitely compromise part of the cane development for this next crop." Concerns about Brazil's crop have sent raw-sugar futures traded in New York to their highest level in three weeks. On Wednesday, the May-delivery contract was steady at 25.62 cents a pound. "The weather problems in the center-south (region) are beginning to bring new direction to the fundamentals," Arnaldo Correa, head of Archer Consulting in Sao Paulo, wrote in a weekly report. "It seems the market has to awaken." Brazil's sugarcane production last year declined for the first time in a decade, sending shockwaves through the global sugar market, as Brazil accounts for some 50% of global trade in the commodity. An unusual combination of temperature variation and precipitation in early 2011 triggered sugarcane plants to flower during the harvest, consuming their sucrose content, while a series of rare winter frosts further reduced yields. Sugar futures in New York behaved erratically for most of 2011, breaking above 30 cents a pound several times and falling as low as 20 cents between rallies. Iglezias said some sugarcane that sprouted before the frosts didn't survive, forcing the plants to reset their growth cycle. "Now we've had less time for development and worse conditions," he said. "It's visible. A great part of these losses are unrecoverable." Olivia Nunes, a meteorologist at Somar, said a cold front should bring good rains to Sao Paulo and Parana later this week. But with Brazil's characteristically dry winter expected to set in by late April, rainfall in coming weeks probably won't make up for February and March. Neither Brazil's government nor leading sugarcane-industry association Unica have published forecasts for the key center-south region's 2012-13 crop, which mills should begin crushing around mid-April. Independent analysts widely expect the crop to fall somewhere between 2011-12 output, calculated by Unica at 494 million metric tons of sugarcane, and the previous year's production of 557 million tons. Fabio Meneghin, an analyst at Brazil's Agroconsult, said better fertilization and an increase in planted acreage should allow the crop to come within the higher end of that range, notwithstanding the lack of rainfall. "It's too early to talk about a drop," Meneghin said. "We're still considering a number closer to 540 million tons than to 520 (million)." Another weak sugarcane crop would also be bad news for Brazilian consumers hoping for a break from high gasoline prices. About half of the country's cars have flex-fuel engines capable of running on pure sugarcane ethanol, while regular gasoline sold at the country's fueling stations contains a mandatory 20% level of ethanol blended in. After ethanol production from the center-south's 2011-12 sugarcane crop fell 19%, the fuel became more expensive to burn than gasoline. Prices have yet to come down as Brazil's emerging economy demands more and more fuel. -By Paul Kiernan, Dow Jones Newswires; (+55)11-3544-7074, [email protected]

Stock News for Cosan Limited Cl A (CZZ)
02/24/201706:07:16Report of Foreign Issuer (6-k)
12/14/201617:03:21Report of Foreign Issuer (6-k)
11/14/201607:54:32Report of Foreign Issuer (6-k)
10/21/201615:36:22Amended Statement of Beneficial Ownership (sc 13d/a)
09/26/201615:49:57Amended Statement of Beneficial Ownership (sc 13d/a)
09/22/201617:40:00Harvard Endowment Loses 2% in Fiscal 2016
09/22/201613:50:33Amended Statement of Beneficial Ownership (sc 13d/a)
09/15/201614:06:23Report of Foreign Issuer (6-k)
09/14/201612:42:47Amended Statement of Beneficial Ownership (sc 13d/a)
07/19/201608:19:00Utilities' Stocks Under Investors' Scanner -- PPL Corp., CenterPoint...
06/15/201607:30:00How These Diversified Utilities' Stocks are Performing? - Cosan...
06/13/201616:57:19Amended Annual and Transition Report (foreign Private Issuer...
06/10/201616:16:25Amended Statement of Beneficial Ownership (sc 13d/a)
06/08/201611:08:09Amended Statement of Beneficial Ownership (sc 13d/a)
06/08/201607:40:00Brazil's Vale Raises $1.25 Billion from Overseas Bond Issue
06/02/201614:00:28Amended Statement of Beneficial Ownership (sc 13d/a)
05/31/201611:33:59Report of Foreign Issuer (6-k)
05/16/201606:06:50Report of Foreign Issuer (6-k)
05/13/201615:27:41Report of Foreign Issuer (6-k)

Cosan Limited Cl A and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations