German sugar company Suedzucker AG is planning buy 250,000 to 500,000 tonnes a year of sugar production capacity in Brazil to boost its overall capacity by up to 10% pct, according to a report in the weekly WirtschaftsWoche  quoted by the AFX news agency.

"Many Brazilian sugar makers lack capital and are looking for an investor to lean on,' said chief executive Theo Spettmann.

He also said the company is targeting stable full year revenues despite possible EU sugar subsidy cuts.

"The goal is ambitious, but achievable," he said. "Aside from acquisitions, our specialty business will take care of that."