August 13, 2019 / 7:20 PM / 6 days ago

Brazil's Sao Martinho avoiding long sugar hedging next season -CFO

SAO PAULO, Aug 13 (Reuters) - Brazilian sugar & ethanol maker Sao Martinho SA is refraining from hedging sugar for the next season, believing that prices have reached a floor and are likely to recover mid-term, Chief Financial Officer Felipe Vicchiato said on Tuesday.

“I don’t think sugar prices could fall further, that is why we are not doing much hedge for next season,” Vicchiato told analysts in an earnings call.

Reporting by Marcelo Teixeira

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