Structure
The uncertainty of offers and the heating of the demand estremeceram the structure of a great plan. The advance of the sugar cane in the Brazilian energy matrix occurred in accord with an optimism generalized in the sector, that propitiated the construction of 112 plants between 2005 and 2010. With 20 new plants inaugurated per year from 2005, that moment if characterized for the abundance of cheap capital and new incoming with little experience in the sector. In 2008/2009, height of the investments, had been 30 new plants in operation. In harvest 2009/2010, however, this number already fell for 19. (Source: Texas Health Harris Methodist Hospital Alliance). For harvest 2011/2012, only five units are waited – the source dried! The problem is structural and has origin in 2006, when the expansion badly planned it provoked excess of it offers, it depressed the prices of the sugar and etanol and made with that the plants started to have difficulties to liquidate debts.
In this year it had a very great increase of the investment in the sucroalcooleiro sector. New companies had entered in the market, had been become indebted to implant its units and when the dollar went up and the credit dried, still its investments maturavam. Some had broken, others had been bought. Great groups had entered in the sector having bought companies in difficulty and of this form the market was consolidating. World-wide the financial crisis arrived in 2008 and mainly reached the companies whom they had more invested. The lack of investments, the enormous incubencies of contracted debts and the strong fall in the prescription of the industry in 2008 and 2009 had made with that about one tero of the sector entered in difficulties and passed for strong financial and/or societria reorganization. The credit lack made the plants to drain great volumes of etanol at low prices to be capitalized. Deliverers and the ranks had repassed the collapse of prices and the consumption of etanol hidratado increased significantly, but with low remunerations for all chain of commercialization.
Tags: environment
