Palm | Kelapa Sawit

Creditors of Brazilian agribusiness group Agrenco Limited gathered in a general assembly approved importing and exporting company Glencore to manage the company's assets in Brazil, on a three-year mandate, Agência Estado reports. Agrenco has been under a judicial recovery plan since March.

Further, Agrenco said creditors approved the sale of its bio-diesel plant in the state of Paraná to bio-diesel producer Bsbios. US second-generation biofuel developer Amyris Biotechnologies has bought out Crystalsev's stake in a joint venture owned by both companies to produce diesel from cane in Brazil and aims to establish its own mill to guarantee its own cane supply, Reuters reports.

Amyris will look for partnerships with other Brazilian groups, and is now in talks with several to install industrial-scale plants next to existing mills. It plans to produce ethanol at its mill initially, converting the mill to cane diesel later in order to start producing diesel from 2011-2012. (27 May 2009)