In September, Brazilian ethanol demand was 1.74 billion liters, a 2.1% decrease from August but 14.7% higher year-on-year. Ethanol consumption for the year reached 16.02 billion liters, up 44.4% from 2023 but below the 2019 record of 16.37 billion liters. StoneX forecasts a 31.7% rise in 2024, reaching 21.1 billion liters. Gasoline sales fell by 4.9% monthly and 2% annually, totaling 32.61 billion liters year-to-date, a 5.5% drop from 2023. Ethanol’s market share increased to 25.4% in September, up from 22.5% in 2023. São Paulo, the largest producer and consumer, saw ethanol demand at 860 million liters, a 1.5% monthly dip but a 14.5% annual increase. Year-to-date consumption in São Paulo rose by 31.7% to 7.65 billion liters.
Source: Nova Cana