UPDATE 1-Soros says he is a speculator in Brazilian ethanol

(Reuters) - SAO PAULO, June 5 - Billionaire George Soros said
on Tuesday his large investment in Brazilian ethanol production
was speculative because he still sees trade barriers
restricting the full potential of the world's most efficient
producer of the biofuel.




"I know the term has negative connotations in Portuguese,
but I have to admit I am a speculator," Soros told an audience
at Brazil's first Ethanol Summit in Sao Paulo.


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EU Consumption of Ethanol to Outpace Biodiesel by 2020, Association Says

(Bloomberg) -- Ethanol consumption in the European Union
may exceed that of biodiesel by 2020 due to lack of feedstocks for
the latter, according to the European Bioethanol Fuel Association, or
eBio, which represents the region's ethanol producers.

The 27-nation EU wants biofuels to make up an average 5.75
percent of transportation fuel by 2010 and 10 percent by 2020, in an
effort to reduce dependence on fossil fuels and curb greenhouse-gas
emissions. Biodiesel constitutes about 80 percent of EU biofuels
production, according to research company Frost & Sullivan Inc.


Read more at Bloomberg Energy News

Sugar Rises as Brazil Devotes More of Record Cane Crop to Making Ethanol

(Bloomberg) -- Sugar in New York rose as Brazil, the
largest producer of the sweetener, plans to use most of this
year's record sugarcane crop to make ethanol.

Producing the fuel will consume 53 percent of Brazil's
cane, compared with 49 percent last year, Eduardo Carvalho, head
of Brazil's Center-South Sugar and Ethanol Industry Association,
said May 21. Brazil will harvest 513.1 million metric tons this
year, up 13 percent from 2006, the government said May 10.


Read more at Bloomberg Commodities News