Brazilian ethanol exports to EU headings towards record high

In Brazil, Reuters reports S&P Platts data shows the country has exported 435% more ethanol to Europe this year, as of August, compared to last year at 427 million liters. By the end of the year, that volume could surpass 600 million liters, far beyond Brazil’s previous EU export volume of 477 million liters in 2010. With lower ethanol prices in Brazil due to pre-election tax policy shifts and increasing demand in Europe, an arbitrage window has opened up allowing the giant leap in export volumes.