date:Aug 17, 2015
the trader gets exclusive rights to sell 100 percent of the mills sugar and ethanol.
GVO had reached the limits of the guarantees Copersucar could offer, Alves said.
The banks tightened their requirements for mills after the default of the Aralco milling group in early 2014, he said. We needed cash fast and Copersucar couldnt do that for us.
Like many mills in Brazil, GVO is selling sugar and ethanol on the spot market as fast as it can cut cane.
GVOs exit from Copersucar underscores the pl