Ethanol exports set records in 2020 but declined the following year. However, yearly export volume growth has been seen despite income stagnation. Argus projects that ethanol exports in 2024 will be strong, between 2.2 billion and 2.5 billion liters. Brazilian mills have tried to broaden their global reach, with a focus on South Korea, the European Union, and other regions that would typically import ethanol from the US. A multitude of fundamental factors support exports, with businesses focusing on profitability. The market is changing because of initiatives to produce second-generation ethanol (E2G), the growth of corn ethanol, and the possibility of sustainable aviation fuel (SAF).
Source: Nova Cana (*Translated by Ia Niani)