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According to the CEO of the company, the proposals being discussed in Congress regarding the reduction or withdrawal of taxes on fuels would reduce tax evasion, and thus help Raízen
During a teleconference with analysts and investors, the CEO of Raízen stated that the company’s business suffers greatly from tax evasion; therefore, anything that reduces fuel taxes will reduce tax evasion, which would greatly help Raízen. He also emphasized that he views a decrease in the tax burden on the consumer favorably. “The reduction in fuel prices is also good for us,” said Mussa.
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For the CEO of Raízen, all the proposals occurring in Congress, such as the reduction of the Tax on Circulation of Goods and Services (ICMS), are good. “I have never seen so much alignment in Congress regarding the fact that something must happen, and the changes I have seen so far are heading in the right direction.”
According to Mussa, refinery fuel prices could rise even further, as with current oil prices, Petrobras will need to raise the price of gasoline. The CEO of Raízen stated that gasoline is below import parity and that it will have to change at some point since Brazil is not self-sufficient in gasoline, but in the case of diesel, it may take longer.
According to Broadcast, with the advance of fossil fuel, the ethanol produced by Raízen tends to appreciate. The CEO of Raízen says he is bullish about the price of sugar, and that the main indicator is how India will develop its ethanol program. “They are doing a good job of moving sugar to ethanol, and this distances India from export subsidies. And there is also the RenovaBio program, which will create more stability in demand for ethanol. We remain bullish for the price of sugar in the long term,” explained the CEO of Raízen.
About Raízen
Raízen is an integrated energy company. It is a global reference in bioenergy and a key player in the energy transition. Raízen is among the largest private business groups in Brazil, employing over 40,000 people and having 15,000 business partners.
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The company has a unique operating model and is present in the production and sale of renewable energy and sugar from sugarcane to delivering this energy to various places around the world. The company distributes fuels and delivers energy through Shell stations.
What Are the 4 Projects Currently in Congress Aiming to Reduce Fuel Prices in Brazil in 2022?
In the hope of creating at least some stabilization or actually lowering fuel prices in Brazil, four projects directly concerning the prices of gasoline, ethanol, and diesel are currently in Congress and are to be debated among senators and federal deputies still in 2022. To learn more, check out this article in full by clicking here.
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