Ethanol exports more than double in October to 371.12 million liters

Brazilian ethanol exports totaled 371.12 million liters last month, the highest level since October 2020, when the country delivered 379.87 million liters to the international market. According to the Ministry of Economy, the result obtained was higher than the 164.98 million liters of October 2021.

Industrial ethanol exports to South Korea accounted for 30% of the total shipped in October. The Netherlands – gateway for most imports into the European Union – received 24% of Brazilian specification exports, followed by the United States (15%), the United Kingdom (7.8%), and the Philippines (5.9%).

The significant increase in ethanol exports comes while domestic consumption remains primarily subdued due to tax changes that have reduced the competitiveness of the biofuel compared to gasoline at the pump, which has put pressure on producers since September.

Ethanol imports to Brazil fell last month, totaling just 8.07 million liters, a drop of 42% on an annual basis. All the ethanol imported during October came from Paraguay.

Source: Nova Cana

To read the full original article, please go to: https://www.novacana.com/n/etanol/mercado/exportacao/exportacoes-etanol-mais-dobram-outubro-371-12-milhoes-litros-071122

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