Brazil’s ethanol exports to Europe are set to reach a record high this year, as foreign markets look more appealing than domestic, according to an analysis by S&P Global Commodity Insights. This year through August, Brazil shipped about 427 million liters of ethanol to Europe, 435% above the figures from the same period in 2021. By the end of 2022, the South American country is expected to export 600 million liters of the biofuel to Europe, said S&P. Brazil’s previous record was set in 2010, when it exported 477 million liters to the continent. The surge in exports comes as the biofuel sector responds to lower prices in Brazil and increased demand in Europe, making shipping abroad more appealing to producers.
Sources: Reuters/Datamar News