Lula's fuel tax U-turn likely to hit sugar, ethanol industry
Brazilian sugar and ethanol companies are likely to be negatively impacted after Brazil's new President Luiz Inacio Lula da Silva surprised markets with a decree that keeps fuels exempt from federal taxes, analysts said on Tuesday.
It is reported by Reuters.
The sugar and ethanol industry, as well as international sugar traders, were widely expecting the resumption of federal taxes on gasoline and ethanol as the new administr...