San Martinho holding on to significant ethanol stocks in hopes of higher prices

In Brazil, San Martinho is holding 108.64 million liters of anhydrous ethanol stocks, up 106% on the year, and 59.4 million liters of hydrous ethanol stocks, up 54% on the year, in hopes of selling into the market during the inter-harvest season when prices are typically higher. The move has had a negative immediate impact on the company’s quarterly earnings but plans to benefit later. The company is also holding on to 48% more sugar stocks tan a year ago at 227,044 metric tons.