New measures to aid Brazil ethanol sector not enough, exec says

04/23/2013 | Reuters

The Brazilian government has unveiled measures to cut taxes and expand loans for the sugar and ethanol industry in a bid to bolster ethanol output and combat inflation by driving down fuel costs and lessening the country's dependence on imported gasoline. "The government measures will create better conditions for investment in expanding output" of ethanol, said Finance Minister Guido Mantega. The measures are "a step in the right direction" but are not enough to bring back the level of investments that the industry received before 2009, said Elizabeth Farina, president of industry group Unica.

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