Last update: 09.07.2011
Brazil: Attitude before altitude
Source : biofuelsdigest.com
The Brazilian ethanol market has much in common with its more well-publicized American twin. Both are based on first-generation feedstocks - Brazilian sugarcane and US corn. Both economies were hard-hit by a slowdown in capital markets, which frustrated the financing of capacity expansion. Both sugar and corn prices have increased sharply in the past 18 months, corn doubling, sugar almost tripling. Both had below-expectation harvests last year. Both see big growth in alternative fuels. In the US, the Renewable Fuel Standard calls for 36 billion gallons of biofuels by 2022, up from around 14 billion today. In Brazil, there is no corresponding mandate, but the Brazilian energy ministry projects that ethanol production will reach 64 billion liters (16.9 billion gallons) by 2019-20, up from 28 billion liters today.
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16 May 2011 |
South & Latin America
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