Brazil ethanol exports hike, but domestic demand is kept slow
Dec, 28, 2022 Posted by Gabriel MalheirosWeek 202252
While Brazilian ethanol exports hit significant levels in 2022/23, domestic demand remained sluggish. This is because, according to the Cepea economics research center, with the increase in sales of Type C gasoline due to its competitive price advantage, the demand for anhydrous ethanol has grown to the detriment of hydrous ethanol. In this scenario, hydrous and anhydrous ethanol prices at the mills were pressured in part of the 2022/23 harvest.
Cepea calculations show declines of 13.8% and 12.8% in hydrous and anhydrous prices, respectively, in part of the current harvest compared to the previous one – in real terms (the November IGP-M deflated values), with averages of R$ 2.8826/liter and R$ 3.2852/liter between April and November/22. As for liquidity, the scenario was of few deals between April and November, as buyers consulted by Cepea were cautious.
Uncertainties over fuel taxation have been worrying market agents, who are waiting for a government position to define their goals for next year.
Source: Notícias Agrícolas
To read the full original article, please go to: https://www.noticiasagricolas.com.br/noticias/sucroenergetico/337041-etanol-cepea-exportacoes-sao-intensas-em-22-23-mas-demanda-interna-cai.html#.Y6yAY3bMLIU
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