August 15, 2017 / 7:09 PM / a year ago

Brazil's Sao Martinho delays sugar hedging, to carry 130,000 tonnes

SAO PAULO, Aug 15 (Reuters) - Brazilian sugar and ethanol maker Sao Martinho SA on Tuesday said it was delaying sugar hedging due to current low prices for the sweetener.

Sao Martinho’s Chief Financial Officer Felipe Vicchiato said the company had yet to hedge around 130,000 tonnes of sugar. He said the firm would probably carry that amount, looking to possibly fix prices against the March 2018 contract in New York. (Reporting by José Roberto Gomes; Writing by Marcelo Teixeira; Editing by Andrew Hay)

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