Brazilian hydrous ethanol hits record high but still preferred over gasoline

In Brazil, hydrous ethanol prices have jumped 7% on the week to an all-time high as drivers continue to prefer filling up with 100% ethanol rather than gasoline at the pump where recent increases in prices still make ethanol more attractive. Mills are also beginning to keep back volumes from the market to ensure supplies during the quickly approaching inter-crop season, a factor which is also helping to support prices. Currently millgate ethanol prices are 47% higher on the year and up 26% since September.