Commodity dealer COFCO to enter auction for Brazilian sugar mill

Chinese commodity dealer COFCO has sought permission to take part in the September 4 auction of a Brazilian sugar mill now owned by Shree Renuka Sugars Ltd, Reuters reports.

The news agency says the sale of the mill is a consequence of the restructuring of the debt of the Indian sugar refiner, which is under bankruptcy protection.

The mill, in Brejo Alegre in São Paulo state, has the capacity to process 4 million tonnes of sugar cane a year.

COFCO runs four sugar and ethanol plants in Brazil, which have a combined capacity of 15 million tonnes of cane a year.