PIXABAY

Aug 10, 2022

Bunge, BP to Sell Brazil Ethanol, Sugar Business

Joint venture was originally announced in 2019

According to reports, Bunge and BP have put their Brazilian sugar and ethanol joint venture BP Bunge Bioenergia up for sale.

The company's assets were valued at between 9 billion and 10 billion reais ($1.96 billion).

In a statement sent to Reuters, Bunge reiterated it was assessing options to exit its participation in the sugar and bioenergy joint venture, which was first announced in 2019, but did not provide details on how that could happen.

"While we are pleased with how the business is performing, it is not core to our overall business strategy," Bunge said.

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Magazine

Marketwatch: Oct, 02

US Corn Price Idx: ZCPAUS.CM

open: 6.6922
high: 6.8741
low: 6.6102
close: 6.6102

US Soybean Price Idx: ZSPAUS.CM

open: 13.6782
high: 13.7587
low: 13.1333
close: 13.1536

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 9.3697
high: 9.6472
low: 9.1747
close: 9.4272

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 8.3873
high: 8.7783
low: 8.2498
close: 8.5389