Raizen sees profits soar 230% thanks to higher ethanol prices

In Brazil, with ethanol prices an average of 25% higher during Q3 of the 2015/16 harvest and the crush running at 40% higher than the same period during the previous harvest, Raizen was able to boost its profit by a whopping 230% at $236 million. Revenues were up 19% during the period with ethanol sales particularly impressive at 52% during the quarter. Ethanol sales were dominated by exports during the October to December period with 555 million liters going abroad and 483 million liters supplying the domestic market.