In Brazil, Louis Dreyfus estimates that ethanol exports will fall to 11-year lows this year to just 395.8 million gallons, down 45% on the year. US import demand is expected to dry up extensively due to the vast amount of cheap corn currently available there. First quarter 2014 exports already fell 47% on the year to 88.7 million gallons. Despite dry conditions during the inter-harvest period, sugarcane production is only expected to fall by 2.8% to 580 million metric tons.
Category: Fuels