SE Asia fuel ethanol prices rise on CBOT ethanol futures

In Singapore, Southeast Asian ethanol futures are tracking CBOT higher at $518-$522 per cubic meter, following USDA estimates that US corn farmers would reduce planted area by 4% this year. Prices may rise further in the coming weeks as US producers head into maintenance season. Brazil and Asian countries compete for US ethanol imports during the key inter-harvest season especially. The Philippines is holding off as long as it can due to the higher prices.