Arbitrage window opens for US ethanol into Brazil despite tariff

In Brazil, Reuters reports that just as the government is looking to drop its 20% import tax on ethanol in exchange for renewed access to the US market for its beef, the arbitrage window for US ethanol has opened again, even with the tariff still in place, thanks to increased prices domestically. As much as 450 million liters could be shipped from the US between December and February, three times as much as the 150 million liter quarterly quota that triggers the 20% tariff.