Brazilian hydrous ethanol prices collapse to two-year lows from record highs in a month

In Brazil, Platts reports that hydrous ethanol prices in Brazil’s center-south region have collapsed to two-year lows following record highs just a month ago as oil prices, and therefore gasoline prices, crumble while supplies begin to pick up as mills kick of the crush. Producers were in a race to the bottom in attempt to get cash on hand before the end of the fiscal year on March 31. With prices falling so sharply, major oil companies called for force majeure earlier this week.