Copersucar seeks partner in Hong Kong

Brazil’s biggest sugar and ethanol company, Copersucar S. A., is actively seeking a partner in Hong Kong. Copersucar Executive President Paulo Roberto de Souza said the company wants to establish itself in the international market. Copersucar recently formed Copa Shipping Company, a 50-50 joint venture with Dubai JAG-Jamal Al Gurair. Copersucar is eyeing China as a future market for Brazilian sugar where there is a growing demand from consumers and manufacturers. “It is most likely in a short space of time we have our own office in Hong Kong and, from there, we will form a joint venture with a local partner. With someone who knows the region, their buyers and has credit relationship will be easier to expand the market,” said de Souza. In the view of the company’s board of directors, China could very well take the place of Russia as one of the biggest buyers of national sugar. China’s sugar consumption per capita is still very low but rapidly growing, while local production is limited. In just two years, China has already doubled its sugar imports. Incorporated in 2008, Copersucar’s unique business model combines the production of 48 partner mills and approximately 50 non-partner mills in an integrated, large scale logistics, transportation, storage and commercialization system managed directly by the company to serve the domestic and global (March 13, 2012)