South Korea and Japan looking to switch to Brazilian ethanol but crush getting in the way

In Brazil, Platts reports that South Korea and Japan are looking to switch imports to B-grade ethanol from Brazil now that the crushing season has kicked off and should help to push prices lower. Typically, early in the year the two countries buy ethanol from Pakistan whose availability winds down around the time that Brazilian picks up. Pakistani ethanol prices have already started rising, however, while traders are reluctant to secure deals for Brazilian product due to the rains that have significantly tightened supplies.