Brazilian ethanol imports held steady in February but still down 37% on year

In Brazil, Platts reports data from the Secretariat of Foreign Trade (SECEX) shows ethanol imports were mostly steady in February at 163.3 million liters, only 1% lower than in January thanks to continued demand during the inter-harvest season and low US ethanol prices that make arbitrage viable despite the 20% import tariff. The tariff is having an impact, however, as February imports were down 37% from February 2017 and total imports for the first two months of the year are down 24% at 327.9 million liters.