Brazilian ag ministry announces push to boost ethanol blend to 27.5%

In Brazil, the agriculture ministry has confirmed that it is looking to increase the blend of anhydrous ethanol in gasoline to 27.5% from the current 25%. Such a move is expected to reduce Petrobras’ fuel imports, helping to offset some of its losses. The Brazilian stock exchange BOVESPA responded favorable to Petrobras on Friday after the confirmation was announced.