EU T2 ethanol prices drop to three-month low on new COVID-19 restrictions

In the Netherlands, Platts reports European T2 ethanol prices fell to Eur646/cu m on Tuesday, the lowest seen in three months, after hitting an all-time high just a month before at Eur840/cu m as European markets go into stricter COVID-19 pandemics. The restrictions are expected to shrink gasoline and therefore ethanol demand in the short terms and possible as far out as Q2 2021. Combined with lower expectations of demand, as much as 40,000 cu m of ethanol arrived from across the Americas in October with another 20,000 cu m seen for November arrival.