Brazilian ethanol producers in crisis management mode to ensure survival

In Brazil, Platts reports that the country’s largest ethanol companies have kicked into crisis management mode, creating teams charged specifically with developing strategies to ensure the companies don’t collapse as a result of the current COVID-19 crisis and its economic aftermath. With Raizen already having called force majeure and concerns that Petrobras had as well, the market expects the legal instrument to become more common as the situation worsens. With transportation down 70% in some cities, ethanol sales have fallen up to 60% in the center-south region.