The document is a presentation of Açúcar Guarani S.A.'s Q2 09/10 results. It summarizes that sugar prices were at their highest level in 28 years, supported by lower production in major countries. Guarani's net revenue grew 27.7% in Q2 driven by a 49.8% increase in sugar prices. Adjusted EBITDA rose 49.9% in H1 09/10 due to higher sugar prices. Net profit was R$13.8 million in H1 compared to a loss last year, positively impacted by price recovery and FX effects. The outlook for sugar and ethanol prices remains positive on supply constraints.