CropEnergies sees record ethanol revenue but warns over COVID-19 impacts

In Germany, Platts reports that CropEnergies’ 2019/20 ethanol production in the year ending in February rose above 1 million cu m, up 3.6% on the year. Higher ethanol prices mixed with increased demand for ethanol as European countries look to achieve the 10% renewable energy mandate under the Renewable Energy Directive in 2020 saw revenue reach a record high of $976 million. The company has warned that the global COVID-19 pandemic is likely to hit its performance hard, however, as drivers stay off the road and fuel demand drops.