Brazilian hydrous ethanol prices begin to recover

In Brazil, Platts reports that hydrous ethanol prices that had taken a hit due to the start of the sugarcane crush together with falling demand from COVID-19 impacts have begun to strengthen. Prices rose 7.5% from the recent low in late April in response to higher oil prices that have jumped significantly from their own lows just a few weeks ago. With Petrobras increasing gasoline prices by more than 11%, demand for ethanol may pick up as well which will in turn help to support ethanol prices.