Cargill cites potential oversupply of ethanol in Brazil as it doubles capacity

Cargill, which is doubling production capacity at its Cevasa (Brazil) sugar processing plant to 1.2 million metric tons in 2008, said Brazil will need export markets for ethanol to avoid an oversupply of the market. Cargill expects to produce ethanol at Cevasa for export markets, and its comments come on the heels of President Lula’s global ethanol-promotion tour, and of reports that India is facing a severe ethanol shortage. The remarks also came as the US considers lifting a 50-cent tariff on Brazilian ethanol….In Saskatchewan, Cargill announced that it would double its canola processing capacity. Canola oil is a biodiesel feedstock.

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