A fifth of Brazilian mills to be sold or mothball as ethanol remains unprofitable

In Brazil, despite boosting the ethanol blend to 25% from the current 20% level and tax cuts on mills, many mills still won’t be profitable, leaving as many as a fifth of the 300 mills in the country to be sold or mothballed this year because ethanol isn’t turning a profit. Bloomberg New Energy Finance says that ethanol has been losing market share to gasoline consistently over the past three years.