Brazil – 2024 ethanol exports seen robust, helped by corn ethanol, Argus says.
Brazil has the potential to take care of exports of ethanol at robust ranges in 2024, after final 12 months posting the very best volumes since 2020 resulting from a rise in corn ethanol provide, an Argus Media specialist mentioned.
Brazil’s whole ethanol shipments stand at 2.558 billion liters final 12 months, up 2.5% from 2022, the very best efficiency since 2020 when it had exported 2.7 billion liters, in response to commerce figures compiled by Argus Media, which makes a speciality of pricing and consulting companies.
Argus Media, gas analyst mentioned:
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The quantity ought to stay robust (in 2024), between 2.1 billion and a pair of.5 billion liters.
Amance Boutin, gas analyst at Argus Media, mentioned, noting corn ethanol manufacturing has been rising within the nation, pushed by a rise in capability.
His evaluation comes regardless of market expectations of a decrease provide of sugarcane ethanol in Brazil’s Middle-South area subsequent season, which begins in April, resulting from a smaller harvest and with mills heading a bigger a part of sugarcane to provide sugar.
“We’re going to have that assure, corn ethanol is managing to have a vocation for being exported,” he mentioned, including an enchancment within the nation’s logistics has facilitated the product exports.
Brazil’s ethanol exports in February totaled 159.1 million liters, the very best in eight years for the month, with rising home provide and rising demand from Saudi Arabia and India, Argus mentioned.
South Korea is the primary vacation spot for Brazilian ethanol, accounting for 30% of the whole quantity shipped from the South American nation final month, adopted by India and Saudi Arabia, with 23% and 18%, respectively.
Brazil’s 2024 ethanol exports seen robust, helped by corn ethanol, Argus says, March 25, 2024
