Nicaragua Sugar Estates to Export $56 Million in Ethanol

The company predicts that it will export 80 million liters of ethanol to Europe in 2009 which will generate $56 million in income.

Thursday, March 12, 2009

Nicaragua Sugar Estates Limited, which is owned by the Pellas Group, owns Ingenio San José, through which it produced and exported 20 million liters of ethanol in 2007, 50 million in 2008, and it plans to reach 80 million this year.

In an article published in La Prensa in Nicaragua, Alvaro Martinez, manager of the company, indicated that they have already exported 40 million liters this year, which accounted for $28 million in income.

He expressed optimism in the face of the current economic crisis: "He said he was confident that the European market will mantain its demand for ethanol despite the financial and economic crisis" and that he hopes that prices “will stabilize at around an average of 70 cents per liter."

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