About 40,000 cu m of ethanol booked to the US from Santos for July/August

In Brazil, Platts reports that about 40,000 cubic meters of ethanol were booked to the US from the port of Santos for shipment in July and August with expectation of prices around $480/cu m FOB. A stronger dollar and stronger ethanol prices in the US made the arbitrage deal viable. A recent rally of D5 RINs over D6 RINs mean additional potential room for Brazilian ethanol in the “other advanced biofuels” category despite much of it going to biodiesel production.

Category: Fuels