Brazil’s BNDES state back to advance $1 billion to ethanol producers to build reserves, avoid price drops as economic slowdown hits

In Brazil, the BNDES state development bank said that it will advance $1.05 billion to ethanol producers to provide funding for ethanol reserves, to ward off the potential of falling ethanol prices from dumping excess production on a weak fuel market. The Agriculture ministry said that up to 870 million gallons will be placed into reserve, while the Brazilian government is rumored to be backing a plane to place more than 1 billion gallons into reserve.

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