Brazil ethanol imports reached 23-month higher in March as quota reset

In Brazil, Platts reports that Secretariat of Foreign Trade data shows ethanol imports into the center-south region reached an eight-year high in March at 210 million liters, up from just 1.98 million liters in March 2019. Total Brazilian imports in March reached a 23-month high of 276 million liters following the opening of an import quota for US-origin ethanol. Ethanol prices soared in late February ahead of the start of the sugarcane crush but have since collapsed due to COVID-19 keeping drivers off the road, low gasoline prices and new product from the sugarcane mills coming online for the season.