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Glossary

Stay up to date with the CMAA universe, check out the meaning of the main jargons in our field.
Term
Definition
Share of Common Stock (ON)
Type of share that gives its holder the right to vote at shareholder meetings.
Share of Preferred Stock (PN)
Type of share that gives its holder priority in the distribution of dividends, fixed or minimum, and in the reimbursement of capital.
VHP Sugar
This type of sugar is destined for the foreign market, its raw composition allows customers to transform it into different types of sugar for consumption. VHP = Very High Polarity.
AGE
Special Shareholders Meeting. It has no pre-determined or defined periodicity.
AGO
Annual Shareholders Meeting. Held annually, with a specific date to take place.
Total Recoverable Sugar (TRS)
The term represents the quality of the sugarcane, that is, the ability to be converted into sugar or alcohol through the transformation coefficients of each production unit. It is measured in kilos of TRS per ton of sugarcane.
TRS/ha
Combined sugarcane productivity index. It is measured in kilos of TRS per hectare.
Bagasse
Sugarcane residue after milling in a roller or a set of rollers. Bagasse is called, successively, bagasse from the 1st roller, 2nd roller, etc. The bagasse from the last roller is also called final bagasse or simply bagasse.
Cantosi
It consists of planting seedlings in around 20% of the area to be renovated and using the other 80% to plant grains or legumes. This allows quality sugarcane seedlings to be produced in the same location to be renovated.
Cogeneration
Production of electrical energy from sugarcane biomass.
Consecana
A voluntary adoption system for paying for sugarcane based on sucrose content, with technical criteria for evaluating the quality of sugarcane delivered by planters to mills and for determining the price to be paid to the farmers.
CVM
Brazilian Securities Commission. Its purpose is to monitor, normalize, discipline, and develop the securities market in Brazil.
Anhydrous Ethanol Fuel
Ethanol used as an additive when mixing with gasoline.
Industrial Anhydrous Ethanol
Ethanol applied in the formulas of cleaning products, chemical industry and in the manufacture of paints and varnishes.
Hydrous Ethanol Fuel
Ethanol for direct supply to vehicle engines.
Neutral Hydrous Ethanol
Used in the manufacture of beverages, cosmetics, and pharmaceutical products. It is obtained from the rectification of National Standard Hydrous Ethanol.
National Standard Hydrous Ethanol
Ethanol aimed at domestic use and ether manufacturing.
FMV
Fair Market Value or pricing of assets at their fair value.
Free Float
Shares intended for free trading in the market.
IFRS
International Financial Reporting Standard. Set of international accounting standards that aim to standardize accounting procedures.
IPO
Initial Public Offering. Term used for the first launch of shares on the market.
PSS
Pre-Sprouted Seeds. The technique's basic foundation is the use of the meristem – multiplication tissue that makes up the buds – extracted in different ways and can also be developed through the use of tissue culture. The extraction of buds and, consequently, meristems is carried out mechanically or manually, undergoing thermal and chemical treatments, and then placed in germination chambers with temperature and humidity control. After germination, which occurs within a period of 10 to 15 days, the resulting seedlings are transplanted directly into trays or tubes, where they complete the cycle, which lasts around 60 days. Planting can be done using ratchets or with tractor-driven mechanical transplanters, already available on the market. PSS must be produced by specialized nurserymen in seedling production using high-quality genetic materials with traceability, with all phytosanitary controls to prevent the spread of pests and diseases, and in compliance with current legislation.
SIOM
Simultaneous Inter-occupational Method. It consists of interspersing crops of economic and/or agronomic interest with the sugarcane field to reduce implementation costs, improve the logistics system and promote the improvement of the cultivation site (chemical, physical conditions, soil biota and microbiota).
TCH
Tons of Cane per Hectare. Sugarcane productivity measurement unit.
Única
Union of the Sugarcane Industry.
Otto Cycle Volumes
It is the sum of the volumes of gasoline and ethanol.
Equivalent gasoline volumes
These are the Otto cycle volumes adjusted by the energy coefficient.

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