April 26, 2018 / 1:51 PM / a month ago

CORRECTED-Cofco's Brazil unit likely to raise ethanol output in 2018/19 cycle

(Corrects second paragraph to say the sector, not the company, could decide to cancel contracts)

SAO PAULO, April 26 (Reuters) - The Brazilian unit of Chinese agribusiness conglomerate Cofco is likely to raise ethanol output in the 2018/19 harvest cycle amid strong demand for the fuel in the South American country, an executive said on Thursday.

Mauricio Sacramento, Cofco’s head of sugar trading, said on the sidelines of an industry event that the sector could even cancel sugar sales contracts to boost production of the fuel. Cofco expects to process around 15 million tonnes of cane in 2018/19 and nearly all of its sugar production in the cycle was pre-sold last year, Sacramento said. (Reporting by José Roberto Gomes Writing by Ana Mano Editing by Chizu Nomiyama)

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