European T2 ethanol hits eight-year high and record premium against gasoline

In the Netherlands, Platts reports European T2 ethanol rose to an eight-year high this week at EUR715/cu m FOB Rotterdam, up EUR51 on the week, with the highest-ever premium to gasoline at $559.49/cu m. Even though prices were at a record low in March during the onset of the COVID-19 pandemic, demand recovered faster than production and is now almost back to normal. Summer holidays taken by private vehicles rather than public transportation or airplanes are a likely contributor to the increased demand.