BRAZIL: Amid weak harvest, UNICA may close offices
Published: 06/06/2012, 1:26:57 PM
Brazil's lead sugar and ethanol trade association, UNICA, may close its two international offices, after already laying off Brazilian staff in an attempt to cut costs during a weak start to the harvest, according to Valor Economico newspaper.
The UNICA offices in Washington, DC, and Brussels could both be closed and have activites in those regions monitored from Brazil, the association told Valor. UNICA, which has 60 staff, laid off five this past week in various offices in Sao Paulo state.
The necessity to cut costs has come as a result of a weaker than expected harvest in the centre-south, which has led to less cash contributed to UNICA by its members, which pay the organization based on harvest size.