To stimulate sugarcane ethanol production, the Brazilian government recently launched a new financial incentive plan and promised to work closely with private companies to jointly promote this struggling industry.
According to Reuters, the Brazilian state-owned Development Bank announced that it will provide 3 billion to 3.5 billion rilles of development funds for sugar cane companies, which will last until 2014. This amount of funds is equivalent to about two-thirds of the industry's annual output value. (1 Lille is about 4.10 ***)
Haroldo Lima, head of the National Petroleum Authority of Brazil, said that to prevent the regular shortage of sugarcane-based biofuels, the government’s best practice is to provide a good investment environment and make investment quick in the short term. enter. At the beginning of this year, the Brazilian government strengthened its supervision and control of the ethanol industry.
Now, some sugarcane ethanol investors worry that the government will step up interventions, such as setting production targets. Brazilian Minister of Mines and Energy Edison? Edison Lobao said: “The most important thing is to consider that the industry is facing new challenges. The government and companies need to face and overcome difficulties together.†Luo Bao said that the government is working with representatives of private companies to develop a The 10-year investment plan has doubled sugarcane ethanol production and is coordinated with Brazil’s booming economic development.
Manufacturers have called for the government to implement some incentives. Despite the fact that biofuels are expensive and the use of biofuels in Brazil’s domestic vehicles is also expanding on a large scale, Brazil’s sugar cane production value is only around US$30 billion a year, and it has been struggling with underinvestment and supply shortages. (1 USD is about 6.48 yuan ***)
Government officials have accused ethanol producers of investment mistakes and failed to prevent cyclical ethanol shortages, which has led to Brazilian consumers at the gas station in the first half of this year. Producers said that since the global financial crisis in 2008, they were subject to uncertain regulatory measures, unfair taxation policies and long-term funding gaps. From 2000 to 2008, the average sugar cane production in Brazil increased by 10% per year, but it did not exceed 3.3% per year after 2008. It should be pointed out that other foreign investors have also invested billions of dollars in the sugar cane ethanol industry in recent years.
Brazil's state-owned development bank is by far the largest agency in Brazil to provide long-term support. Banker Luciano? Luciano Coutinho stated that he is "very optimistic" about the future of the cane ethanol industry. Cotinho believes that the top priority should be to expand ethanol supply. He said: "In order to guarantee supply, the federal government will spare no effort to support it."
Jose Carlos Grubisich, president of cane sugar and ethanol producer ETH, revealed that government officials and manufacturers are discussing several measures to encourage investment, which may include: the government from the policy level to give more explicit guidance to gasoline blended ethanol requirements Increase the use of long-term contracts between producers and distributors to avoid future shortages of ethanol fuel; reserve ethanol to reduce price fluctuations.
According to Reuters, the Brazilian state-owned Development Bank announced that it will provide 3 billion to 3.5 billion rilles of development funds for sugar cane companies, which will last until 2014. This amount of funds is equivalent to about two-thirds of the industry's annual output value. (1 Lille is about 4.10 ***)
Haroldo Lima, head of the National Petroleum Authority of Brazil, said that to prevent the regular shortage of sugarcane-based biofuels, the government’s best practice is to provide a good investment environment and make investment quick in the short term. enter. At the beginning of this year, the Brazilian government strengthened its supervision and control of the ethanol industry.
Now, some sugarcane ethanol investors worry that the government will step up interventions, such as setting production targets. Brazilian Minister of Mines and Energy Edison? Edison Lobao said: “The most important thing is to consider that the industry is facing new challenges. The government and companies need to face and overcome difficulties together.†Luo Bao said that the government is working with representatives of private companies to develop a The 10-year investment plan has doubled sugarcane ethanol production and is coordinated with Brazil’s booming economic development.
Manufacturers have called for the government to implement some incentives. Despite the fact that biofuels are expensive and the use of biofuels in Brazil’s domestic vehicles is also expanding on a large scale, Brazil’s sugar cane production value is only around US$30 billion a year, and it has been struggling with underinvestment and supply shortages. (1 USD is about 6.48 yuan ***)
Government officials have accused ethanol producers of investment mistakes and failed to prevent cyclical ethanol shortages, which has led to Brazilian consumers at the gas station in the first half of this year. Producers said that since the global financial crisis in 2008, they were subject to uncertain regulatory measures, unfair taxation policies and long-term funding gaps. From 2000 to 2008, the average sugar cane production in Brazil increased by 10% per year, but it did not exceed 3.3% per year after 2008. It should be pointed out that other foreign investors have also invested billions of dollars in the sugar cane ethanol industry in recent years.
Brazil's state-owned development bank is by far the largest agency in Brazil to provide long-term support. Banker Luciano? Luciano Coutinho stated that he is "very optimistic" about the future of the cane ethanol industry. Cotinho believes that the top priority should be to expand ethanol supply. He said: "In order to guarantee supply, the federal government will spare no effort to support it."
Jose Carlos Grubisich, president of cane sugar and ethanol producer ETH, revealed that government officials and manufacturers are discussing several measures to encourage investment, which may include: the government from the policy level to give more explicit guidance to gasoline blended ethanol requirements Increase the use of long-term contracts between producers and distributors to avoid future shortages of ethanol fuel; reserve ethanol to reduce price fluctuations.
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