Volume of ethanol sold by disqualified plants grows 46% in 2026

A survey of companies in the fuel sector, obtained by the column, shows that the volume sold by four ethanol plants decertified by the São Paulo Finance Department grew 46% between January and July 2026. The comparison is with the same period last year.

The Itajobi Açúcar e Álcool, Usina Carolo, Usina Rio Pardo and Comanche Biocombustíveis de Santa Anita plants appear cited in Operation Hidden Carbon, which investigates fraud in the market.

In a financial crisis, Itajobi seeks debt restructuring of R$3.7 billion. Usina Carolo announced the suspension of activities in March this year.

Itajobi and Usina Rio Pardo, contacted by the column by email and telephone this Thursday afternoon (3), have not responded to date. Carolo and Comanche were not found.

De-accreditation changes the dynamics of tax collection. Tax liability is deferred to the next step in the chain. In this case, the distributors. The concern of tax authorities is that these distributors may be "surrogates", fictitious companies created just to avoid paying taxes.

In the region of Ribeirão Preto, in the interior of São Paulo, 23 search and seizure warrants for Cabono Oculto focused on the sugarcane industry.

The survey was carried out because companies that operate regularly see the risk of an even greater increase in the volume handled within this regime. They also warn of the risk of competitive asymmetry between those accredited by the Finance Department and others that are not accredited. The potential for revenue loss, according to entities in the segment, is up to R$602 million per year.

Those responsible for the study demand the suspension of benefits to non-accredited agents, preventing them from transferring their tax responsibilities to the distributors.