Brazil's Patria-backed Tria expands into sugar trading
SAO PAULO, May 12 (Reuters) - Brazilian energy platform Tria, controlled by investment firm Patria PAX.O, said on Tuesday it has expanded into global sugar trading.
The move builds on Tria's existing energy trading business, targeting Brazilian mills that produce both sugar and electricity from sugarcane bagasse
"The choice of sugar as the commodity to be traded is directly linked to its proximity to the power sector," said Tria's director of new businesses, Heloy Rudge
Services will include structured credit lines, advanced hedging programs and direct access to international buyers in the Americas, Africa and the Middle East
Initial focus on white sugar, with "opportunistic" trading of raw sugar
International sugar prices currently operate below mill production costs due to global oversupply, making credit and risk management tools more critical
Patria has 272 billion reais ($55.52 billion) in assets under management
($1 = 4.8993 reais)
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