Brazilian ethanol stocks hit record high in May on low fuel demand

In Brazil, Platts reports that data from the Ministry of Agriculture and Livestock shows ethanol stocks soared by more than 82% in May to a record high of 4.63 billion liters. The COVID-19 pandemic has kept many people home which negatively impacts hydrous ethanol demand for flex-fuel cars as well as anhydrous ethanol that is blended with gasoline. The pandemic started around the same time as the sugarcane crush in March when mills typically focus more on ethanol production than sugar due to continued rains and higher moisture content in cane.