Santos (Brazil): The week ending July xxth, Ethanol prices in Brazil fell by x.xx, influenced by multiple factors. The interplay of increased supply, seasonal changes, and economic conditions led to this decline.
A strong sugarcane harvest and improved production efficiency resulted in an oversupply, exceeding demand. Seasonal influences and a sluggish Brazilian economy further decreased Ethanol consumption. Temporary adjustments in the Ethanol blending mandate for gasoline also contributed to lowered demand, while inventory adjustments by producers and distributors created a temporary surplus. Additionally, falling Ethanol prices in other major producing regions impacted the Brazilian market.
According to Grain Council FOB Santos, Brazil anhydrous Ethanol prices initially rose but dropped early in the week by x.xx to xx.xx cents per liter. Consequently, the price of Ethanol in Brazil closed at USD xxx/MT, Anhydrous FOB Santos.
Despite these challenges, UNICA reported that rain negatively affected sugarcane processing...
